Whilst in the process of credit repair, we deal with the floods of phone calls from the collection agency. These groups are very persistent and can harass you every day. There are laws that were put into place to shield consumers from the bone chilling believe that only a collection agent can give. I will share some of my best suggestions that will equip you with the equipment that you need to stop the harassment. Reacting the proper way to collection agencies is the key to productive credit repair.
The first thing you should know is that you simply are not bound to accept these calls. Screen your calls before you pick them up. If you accidentally pick up the phone, hang up on them. Whatever you do, do not anytime offer to provide payment of any kind of the debt. This action is the same as admitting the debt is yours and it gives all of them grounds to continue trying to collect.
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If they continue calling you, send all of them a “Cease and Desist Notice. ” You can easily obtain a pre-written 1 online. Just do a quick on-line search and you will have tons at your disposal. It is crucial that you mail this letter immediately and make sure that it is qualified. It lets the agency understand that you mean business, and it supplies a paper trail with proof that action was taken.
Collection providers can authorize a reduction in the amount you are legally obligated to pay verses the amount that you owe. If you decide to negotiate to pay a portion of the debt, make sure that you get an agreement in writing. Once again, I would recommend interacting via certified mail. Make sure you record all communication whether verbal or even written. While in negotiations, it is important to endure your ground. The collection agents are paid and trained to remain theirs, and they will continue harassing you if you do not come to an agreement.
Before dealing with credit repairs and collections, be sure that you educate yourself. Know your legal rights. Collection agencies have a job to do and they are ready to push the legal limits whilst doing it. The lines can get fuzzy sometimes when dealing with credit laws. Do your research and use them to your advantage so that you are ready if a collection agent actually comes your way. And remember, there is always a way to improve your credit score regardless of what a collection agency has to say.