Bankruptcy & Foreclosures

Are you getting calls from debt collectors on what seems like a daily basis? This may not bother you at first, but over time it can put a real damper on your life. It may not be easy, but there are ways to stop debt collectors from calling.

First things first, there is no law that says you have to take calls from debt collectors. You can avoid all of their calls, and if you answer by mistake you can hang up without having to worry about anything happening to you. You may feel embarrassed, but legally there is no action they can take against you. In fact, if you hang up on a debt collector and they continue to call back time after time they are violating the FDCPA.

What is the best way to stop debt collectors from calling? The quickest and easiest way of doing this is to tell them that you no longer want to communicate via telephone but instead via mail. This will force them to put every bit of communication in writing from that point on. Letters, as opposed to phone calls, work in your favor because you can keep a record of everything you send and receive.

What about a cease and desist letter? If you send one of these to a debt collector they are no longer allowed to attempt to make contact with you. This letter may stop the debt collector from calling, but the original creditor does not have to abide by it.

If all of this sounds like a pain in the neck you are right. Even though there are ways to stop debt collectors from calling, the best thing you can do is pay your bills in full and on time so you never have to deal with this in the first place.  

If you do not pay your debt there is a very good chance that it will end up in the hands of a collection agency. This is especially true with credit card and store credit debt. Simply put, dealing with collection agencies is beyond annoying. Not only will they bug you on a regular basis, but soon enough you will begin to feel bad about your situation.

The best way of dealing with collection agencies is to avoid them altogether. Instead of getting yourself into a bad situation you should always pay your bills on time. This is easier said than done, but if you are responsible with your money you can definitely avoid any dealings with collection agencies now as well as into the future.

But it is too late, they are already calling! If you are in this position you need to know how to deal with the person on the other end of the line. Their job is to collect as much of the debt as they can from you. Remember, they need to collect the money of they don’t get paid. Don’t run from collection agencies. Instead, answer every time they call and work with them to find a solution.

Negotiating is essential. For instance, if a collection agency is attempting to recover $1k you should negotiate down in order to save yourself some money. Tell them that you can only afford $500 at this time, and there is no way you can pay more. You may be surprised at how quickly they jump on your offer.

There is no denying that collection agencies are annoying. If you have ever received a call from one of these agencies you know this to be true. Fortunately, you can avoid collection agencies altogether if you have your finances in order. 

The easiest way to look at debt collection is as follows: you either avoid it or you deal with it. In other words, if you get into a situation where debt collectors are calling you must deal with it. If you don’t want to face this issue you should stay out of debt or at the very least pay the minimum on time. Of course, this is not always as easy as it sounds. Even if you are careful you may hit a rough patch, and in turn have a debt collection agency ringing your phone morning, noon, and night. 

Dealing with debt collectors can be a tough job for anybody; even those who have a lot of experience doing so. If you cannot avoid this situation you need to own up to it and get on the same page as the collection agency. In other words, don’t run. Listen to what the collection agency has to say, write it down, and work with them to find a solution.

You may be surprised to learn that a debt collection agency will settle for much less than what you owe if you drive a hard bargain. Remember, they would rather get some money from you than nothing at all. To make this work you want to tell the collector how much money you can give them in no uncertain terms. Let them know what you have and that the number is not negotiable because there is no more money available. This puts them in a take it or leave it situation, and it may work in your favor.

When it comes to debt collection you either avoid it or deal with it. Which option sounds better to you?