When you fall behind on your debts, you may soon start to be contacted by a collection agent. While there is nothing wrong with being called by a debt collector, it can be a frustrating experience. If you find yourself in this situation, you need to keep a few tips in mind.
Communicating With the Agent
When you first are to receive calls or letters from a debt collector, it is generally a good idea to try to communicate with him. Many people make the mistake of avoiding collection agents, which usually leads to even bigger problems like a lawsuit. Try to talk to the collections agent so that you can work out a deal. In some cases, it may be a simple mistake that you can resolve and you might not even owe the debt.
Stopping the Calls
If you are being constantly called by a debt collector, you may feel like stopping the calls at some point. One option that you can purse to stop the calls is to hire a lawyer. Once the lawyer is hired, you can direct all debt collectors to contact him instead of you. At that point, the collection agent will not be able to contact you any longer. Another way that you can get the agent to stop calling is to request contact in writing.
Negotiating a Deal
When a debt collector contacts you, you may have the option to negotiate a settlement. Many debt collection agencies only pay pennies on the dollar for your account and they may be willing to take much less than you actually owe. When you talk to the debt collector, you can ask if he would be willing to take a lump sum settlement. If so, you can make a one-time payment and the debt collector will close out your account.
Get Proof
When you come to an arrangement with a collections agent, it is important that you get some kind of proof. This could come in the form of a letter from the collections agency. Many people have negotiated deals with debt collectors only to find out that their accounts were not closed out as agreed upon. If you get everything in writing, you can avoid the potential problems that can come with this type of negotiation. Ask for a signed letter from the debt collector before making your payment.
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