How to handle a Debt Collector
With the current recession still in full swing, Debt Collectors are becoming more and more aggressive. They are doing so because of the pressure placed upon them by their clients who are uncompromisingly pursuing what is owed to them. That's all well and good and these companies certainly have the right to go after what belongs to them. But there are times when the Debt Collector tactics become unlawful, and intimidating.
If we lived in a perfect world, everyone would pay their bills and there would be no need for the Debt Collector. But of course we don't, so this article will show you how to handle the aggressive collector.
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Instructions
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When the calls start, your best bet is to contact the Company you owe and try to work out a deal directly. If this fails then you will receive calls from the Debt Collector, there's no way around it. There was once a rule (or even a law, but was one of those unenforceable laws, such as jaywalking on a residential street) that stated something to the effect, "if you ask them not to call you anymore," the collectors are supposed to honor your wishes. This was a joke and never worked. There is only one legal way to get a Debt Collector to stop calling you, and that is to file Bankruptcy. You can also try writing a letter to the collection agency to curtail the calls.
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Block the call, or just don't answer the call. This may appear to be a tad unethical however, if you don't have the money, a million phone calls are not going to change that. Therefore, to keep your sanity it may be best that you not talk with the collector at all.
The Collection Agency can call you from 8am to 9pm. They also can come by your home but cannot come to your place of employment. This actually gives the individual who works from home a loophole. Even if you don't work from home, you can stop the home visits rather quickly with a vicious dog, giving the appearance you have one (via sound effects, signs, etc.), or simply not answering the door. A few trips to your home, coupled with the high price of gas, those visits will stop real soon. It's extremely rare for one to come out, but in today's tough times, it can certainly happen. Never threaten a debt collector because you're only making more trouble for yourself. If the collector threatens you verbally, or suggest you may be arrested, the debt collector has crossed the line and what he is doing is illegal.
There's only one entity that could put you behind bars if you owe them, and do not attempt to pay, and that governing body is the Internal Revenue Service.
Of course if the bill collector is trying to collect a car payment then you will be forced to deal with the repo-man. This is a different scenario altogether because they can, and WILL, take your car, because it's actually their car. In some cases this applies to furniture and appliances as well.
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Pay what you can and when you can. Do your best to make some payment on a monthly basis, even if it's only $5 to $25. The agency is not going to return the amount. If you have 6 to 9 months of small payments at least that shows consistency and you're trying.
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Monitor your credit report and begin the process of repairing your credit. There's no need to contact any outside agencies to help you get your credit back on track because in most cases there is a fee associated with it. You can repair your own credit by making the necessary calls, and sending the appropriate letters. This is another way of keeping the Debt Collectors at bay, by establishing a relationship and open dialogue with the Credit Bureaus.
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