Things to Do when Debt Collectors Call
Having a standing debt is not easy. It gives us a lot of stress just thinking about how to pay. Receiving a phone call from a debt collector is no vacation either. It takes a lot of mental energy to try to answer their queries without getting ourselves implicated in the process. Debt collectors are very smart and they can steer the conversation in ways they want to. Some people who don’t know how to handle these call unintentionally put themselves in a bad place. Debt-collector calls should not be seen as the enemy as long as we know how to deal with them, after all, they’re only doing their job. Here are some quick guidelines to help us make the conversation as safe as possible.
Answer the call
Avoiding phone calls from debt collectors never did well to anyone. Not answering the phone call will not make that collector go away instead would make them call us more frequently. It’s not a bad decision to answer them but we have to prepare ourselves when doing so. We can also make them call us back later so we can still have time to gather our thoughts.
A good debt collector will write down all the information that transpired during the call and that means we should, too. We have to take down the name of the debt collector and the firm and address that he or she represents. We should be quick in noting the amount of debt he or she claims that we have since this is the core of the phone call. It’s also important to take note of the date and time of the phone call. All these information is valuable if we ever have to face that collector in court.
Ask them for a copy of the debt information
There are only few things we can write, if we do it while thinking of safe answers. So to make sure to ask them for a copy of the debt before the call ends. The debt collectors will not hesitate giving the information out if we appear to have forgotten about the debt. We can say the phrase “I don’t believe that I currently owe this amount” and they’ll be more than willing to release a copy of the said debt. Better still, ask them to email you an electronic copy of the documents, if you are not comfortable giving out your address.
Never give out information about money
Sometimes debt collectors call to interrogate us about our assets and liabilities. Never fall into the trap if they try to do this. Never hand them information about bank accounts and social security number unless we are trying to make a payment. We should also not mention our bills that we receive each month so they won’t be able to trace our home address. If we can’t still pay the debt that they said we currently owe them, then there’s no point of discussing these matters.
Don’t make payment arrangement
Remember, everything that we say to them can be used against us so better be safe than sorry. Agreeing to negotiate about the payment arrangement can become a basis on which they can (potentially) sue us. These arrangements include the date of our payment and the amount we are going to give them. Aside from this arrangement, it’s also best not to make “good faith” payments which now leads us to the 6th guideline.
Always say no to “good faith” payments
Most often than not, ignorant consumers agree to paying the lowest amount possible. They do this for the hopes that it can help their case out. They think that the collector will stop calling and make them think that they are very much capable of paying the debt. This is sometimes a trick which collectors use especially on those who have already reached the statute of limitation to their debts. Statute of limitation is the given period in which the collector can still sue us. The time of the last payment will become the basis of this statute which is why paying any amount can automatically restart the calendar of the statute of limitation. Make sure to know about the debt first before giving them promises. It might end up being more complicated than we anticipated it would be.
More in Debt
Kim Kardashian Fans Reveal the One Inspiring Quality that Made Them Admire Her Despite Her Past
Kim Kardashian has earned her fair share of haters and critics over the years. Fortunately, they’re balanced out by the many...July 2, 2021
Exclusive: Everything That Scarlet Johansson Splurges On
Scarlett Johansson is one of the biggest stars in the entertainment industry. She calls the shots on screen and off-screen with...July 1, 2021
All Those Paris Hilton Scandals Make Her Family Reconsider Her Inheritence
The media personality’s antics, that Paris Hilton was up to ages ago to come into the limelight, have had a huge...June 30, 2021
Super-Rich People Spend Money In Ways That Us Plebs Cannot Comprehend – I
We know the Lannisters pay their debts and Uncle Scrooge enjoys diving into his ocean of money. But how do super-...June 29, 2021
How do Celebs Celebrate Their Birthdays? By Being VERY Extra, Apparently
Have you ever wondered what birthday party you would throw for your friends and family if you suddenly possessed a large...June 28, 2021
All You Need to Know about the Fall and Return of Iceland’s Sole Billionaire
To be among the wealthy places you in an invincible position. Reviewing the wealthiest celebrities today, will any of them ever...June 25, 2021
The Newest Crowdfunding Success is the New Segway Ninebot Scooter. And We Wish We had One, Too!
The KickScooter F Series was fully funded within 10 minutes of its campaign launch on Indiegogo and an outstanding success not...June 24, 2021
These Historical Tours Broke All Records and Made Millions
The lives of musicians today are vastly different from before, due to the proliferation of streaming platforms and social media access....June 23, 2021
Want a Celebrity Endorsor to Boost Your Brand’s Value? Here are Things You Need to Consider First
To get a new company off the ground, the idea of getting a celebrity endorsement for your product or service can...June 22, 2021