What To Do If You Have A Debt Collector On The Phone
If you owe money to a creditor debt collectors are permitted to report your debt to credit bureaus, file lawsuits against you, and should be taken extremely seriously. The best way to protect yourself and your financial situation is a methodical approach. First, know why you are being contacted. Know where the debt is from and exactly how much it costs.
Request the name of the person that is calling, the name of the agency, the name of the creditor, and the agency’s address and fax number. You have the right to tell a collector over the phone that you want all future contact to be in writing. Follow up all requests with a written request.
Try to remember that if you ask the collector not to contact you at all it the agency has the authority to contact you once more to inform you how it plans to proceed. Another request that can be made is that you are the only person that should be contacted. It may be a good idea to keep a file including dates and details of phone conversations and when you mail out or receive letters.
If you do send any correspondence to the collections agency you should do this by Certified Mail, Return Receipt Requested. This means that the letter reached the collector, providing you with a signed receipt as proof that it did. If you negotiate a re-payment plan over the phone, ask for the terms of the plan in writing. Additionally, any promise to remove or adjust credit history should definitely be documented.
Be sure that you pay the correct party; payments are usually made to the debt collection agency, not the creditor, unless you are otherwise instructed to do so. Carefully look over the amount you are being asked to pay. Get an assessment of any interest, fees or charges that have been added.
If you think that your collector is harassing you, be sure to complain to the agency and keep this complaint in your file. Finally, never ignore a collector even if you feel that the debt isn’t yours; they will continue to contact you and it may mean more trouble and time in the long run.
Mallory Megan works for a debt collection agency. Also, she does articles on business, finance, consumer spending, and collection agencies. This and other unique content ‘collect business debt’ articles are available with free reprint rights.
