Dealing With Debt Collection

Debt collection agencies have been known to strike fear into the hearts of the most hardened debtors and paralyze those who are trying to get their finances under control.

You do need to take control of actions against you to get debt relief and relieve stress.

Taking Control

The first thing you need to realize is you must take control, not only of your finances, but also of any collection actions taken against you. Don't ignore collection attempts, don't get angry, and don't be afraid. 

Practice until your manner is professional, and not defensive or offensive. You want to project an image of cooperation and settlement, not accusatory or aggressive. 

Have a good knowledge of your financial situation, and what you can afford to do, prior to making any commitments for payment to creditors through agencies. Budgeting for debt relief is just one of the highly recommended tips to get you through collection actions. 

Use our free Contact Log to track all contacts with creditors and debt collectors. This will help you to take control of the collection practices, keep you up-to-date on the agreements you have made, and provide proof should debt collection attempts break the law.

Taking The First Step To Control

Be honest with collection agencies about your finances and ability to pay your debts. 

Don't be afraid to tell them:

• you are reviewing debt relief options;
• days and times they may call;
• how much you can afford to pay; and
• when you can afford to pay it.

Negotiating with Agencies and Creditors

When negotiating with creditors and collectors, always offer to pay less than what you budget. Keep negotiations open and responsive, but negotiate in your best interests, not the creditors.

If you come to an agreement with them, make notes of the agreement, send a letter of confirmation, then abide by the agreement. 

If you decide to let a Bankruptcy Attorney help you with debt relief, then you should refer all collection actions to them. You should not attempt to handle collection matters without their knowledge and consent.

Knowledge is Power with Education

Instances of collectors extracting promises of excessive payments, threats and harassment were common place until the enactment of the Fair Debt Collection Practices Act. Now as a debtor, you do have protection against unfair and illegal collection practices. 

Recommended Resources

Is getting out of debt on your "To Do" list? Start here to get the help you need now. Not only get out of debt, but learn how to stay out!  Click here for CareOne help. 

Visit the U. S. Government website to review the provisions of the Fair Debt Collection Practice Act for your own protection.

Recommended Reading:

Check out the Debt Collection Statute Of Limitations (SOL) for your State.

Debt Collection Tips To Get The Results You Want You may think you have no power when the debt collector comes calling, but think again!

Fair Debt Collection Practice Act ... Your Rights And Remedies View the Fair Debt Collection Practice Act and become familiar with your rights and responsibilities as a debtor.

Fair Debt Collection is the law! Check out these commonly asked questions from the FTC about your rights under the Fair Debt Collection Practices Act.

The best Debt Elimination Tip you will ever find!

Get Prepared To Take Control Of Debt Collection Debt collection tips on how to handle debt collectors to get debt relief.