How to Deal With a Bill Collector
When bill collectors call you, they typically want you to pay them the full amount you owe immediately. However, you can often negotiate a better deal if you know how to respond.
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Instructions
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Before the call comes, determine how much you can offer the bill collector. Think of a lump sum amount you can offer. This way you can completely pay off the debt for less and have it out of your hair. Don't offer anything at first. Offer your final figure as a compromise. Make the collector bring you up from zero.
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Suggest a monthly payment plan if the collector refuses to accept the lump sum offer. Before making the offer, look at your budget to determine what you can afford.
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Learn your legal rights in handling bills you are no longer able to pay as agreed. To find out about your state's laws, contact the consumer protection division at the state attorney's office. Understand that the bill collector's job is to get money from you even if it is not the original requested amount. It is important to know your rights. Bill collectors threaten all sorts of things. Many of these statements violate state laws.
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End the call on a good note and thank the collector even if you feel they were rude. This goes a long way if you should have to deal with that company again. Hang up immediately if the caller is shouting or makes threats. You do not have to endure abuse.
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Never answer the door for someone you don't know if you're in debt. Some bill collectors will come to your home under false pretenses or may send someone pretending to be someone else, such as a postal employee.
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Tips & Warnings
Your wages can be legally garnished in some states to pay outstanding debts. Other states have laws to protect the consumer and will not allow garnishment. If the worst case scenario can happen in your state, protect yourself and figure out how to make payments.
