Keeping Your Cool when Talking to Debt Collectors
Talking to debt collectors can be incredibly stressful. It’s easy to lose your temper or your cool, especially if you’re a victim of debt collection harassment. Follow this debt collection advice for dealing with debt collectors so that you don’t lose your cool and potentially risk your case.
Debt Collection Advice on Dealing with Debt Collectors
When You Don’t Recognize the Caller
Many times, when a debt has been outstanding for a period of time, it will be bought by a debt collection agency. The agency purchases the debt and then attempts to collect the balance, in which case they profit from the debt ownership. It is not unusual for debts to be sold several times. By the time they call you, it can be a completely different company name.
Don’t just take this for granted, and don’t allow your confusion to overtake you. Simply take down the information given. You can even ask how long they’ve had the debt. Confirm that they are a valid company, and not just a scam.
When You Don’t Remember the Debt
This is not as uncommon as you may think. As a consumer, you have a right to receive the details of any debt you are called on. After you’ve confirmed that the company is valid, you want to check on the validity of the debt. Request details of the debt in writing, and the company is legally obligated to send you the information.
Don’t lose your temper or argue with the debt collector, and don’t acknowledge that you owe the debt or agree to any payment arrangements until you have all of the information. If you keep your cool, you may realize that you have rights you weren’t aware of.
When You Don’t Know Your Rights
Get debt collection advice from a professional. You may be unaware of the statute of limitations and how it applies to your debt, or other rights that you may have. You could negotiate for a lower settlement, or even be relieved of your debt. Make sure you don’t panic, and speak to an attorney before making any decisions. This could save you from financial hardship.
It’s easy to get scared or angry when you are called by a debt collector. It’s important to stay calm and know your rights, so that your finances don’t end up as collateral damage in the interactions between you and the debt collector.
Source: Statute of Limitations- The Balance
