How To Deal With A Collection Agency Part Two

If a collection agent is asking that you pay a debt that you think you don’t owe, or more money than you may owe, you have the legal power to dispute the debt in writing. The legal terms for doing this are “debt validation” or “debt verification.” Within the first five days of contacting you, the Fair Debt Collection Practices Act requires that bill collectors notify you of your right to validate the debt. You need to ask for verification within thirty days of when you are first told about the debt. Always send your request by certified mail.

There have been recent warnings that have been issued reporting a spike in numbers of complaints about fake and threatening collection calls. If it does not feel right in your gut, be careful. Remain skeptical of any debt collector that asks you for personal information, or threatens you. Again, be aware of your rights that I just described before. Do not provide any personal information that you would not ordinarily provide. If a collection agent threatens you, hang up the phone and report the call immediately to your state attorney general’s office.

As with any business or financial matter, keep great records; copies of all correspondence related to collections. Corresponding with a debt collector by mail is wise, because it allows you to keep things in order, and you will not lose your cool over the telephone. Do not ever pay off a debt until you get written notice of the amount that is due, and as always, keep records and details of everything you pay.

Collection agents might be pushy over the phone, but you are absolutely under no legal obligation to respond immediately. If a debt collector catches you when you are off of your guard, ask that they call you back in an hour so you can plan out the structure of your conversation. If they call you at your job or at a relative’s house, let them know that you are asking them formally that they don’t call you at that location.You also have the ability to formally request that they cease and desist from contacting you at all, but this is risky, considering that this does, under no circumstance eliminate any debt that you may owe. If they want to, the collector can still escalate collections by sending the debt to a law firm, which will be an unexpected and unpleasant surprise.

Finally, do not be afraid to get help. If you are receiving calls from a debt collector, make sure that you take a proactive stance and understand your options which can include debt consolidation, credit counseling or debt settlement. The most important thing to remember is that you are a human being that deserves respect and to be treated with dignity, no matter how much money you may owe to a credit card company. If you stay informed and command this type of behavior, you will find that you will be well protected and more content.

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