Use the chance to learn more about the debt if a debt collector contacts you. This will help you decide whether or not the collector is reputable and whether you actually owe the money.
In most cases, you have a legal right to receive specific information about a debt from a debt collector when they first get in touch with you about it, or within five days of that first contact. This validation data contains your creditor’s name, the amount you owe, and instructions for disputing the debt. If the debt collector doesn’t or can’t provide this information, it could be a scam. Never give sensitive financial information to the caller, at least not until you’ve confirmed they’re legitimate.
Furthermore, ignoring or avoiding the debt collector’s calls usually won’t make them go away if they are collecting a legitimate debt from you; instead, they may find other ways to get the money from you, such as bringing legal action. Even if you are unable to pay at this time, a debt collector can still assist you in determining whether the debt is yours and what your options are.
Dealing with debt collectors can be stressful and overwhelming. They can be aggressive and intimidating, making you feel like you have no options. However, it’s important to remember that you have rights, and there are things you should never say to a debt collector.
Here are some key things to keep in mind:
Don’t admit to owing the debt: Even if you believe you owe the debt, don’t say anything that could be interpreted as an admission. This could restart the statute of limitations, giving the collector more time to sue you.
Don’t make promises you can’t keep: Don’t promise to pay a certain amount or make a payment you can’t afford This could also be seen as an admission of the debt and could lead to legal action
Don’t give out personal information: Never give out your bank account number, Social Security number, or other sensitive information to a debt collector. This information could be used to steal your identity or commit other fraud.
Don’t lose your temper: It’s important to stay calm and collected when dealing with debt collectors. Getting angry or upset will only make the situation worse.
Don’t ignore the debt: Ignoring the debt won’t make it go away. The collector will keep contacting you and berating you, and they might even file a lawsuit.
Never be afraid to refuse: You are entitled to refuse a debt collector. You can tell them to stop contacting you or hang up the phone if you don’t want to talk to them.
Never be afraid to retaliate: You can report a debt collector to the Federal Trade Commission (FTC) or your state attorney general’s office if you think they are breaching your rights.
Here are some additional tips for dealing with debt collectors:
- Keep a record of all your interactions with the debt collector. This includes the date, time, and what was said.
- Ask for the debt collector’s name and contact information.
- Ask for the name of the original creditor.
- Ask for proof that you owe the debt.
- Don’t agree to anything you don’t understand.
- Get everything in writing.
- Consider talking to a lawyer.
Dealing with debt collectors can be a challenging experience, but by following these tips, you can protect your rights and avoid making mistakes that could cost you money.
Dos and Don’ts of Handling Debt Collection Calls
The following is a brief rundown of what to do and don’t do if a debt collector calls:
Do:
- Stay calm and collected.
- Ask for the debt collector’s name and contact information.
- Ask for the name of the original creditor.
- Ask for proof that you owe the debt.
- Don’t agree to anything you don’t understand.
- Get everything in writing.
- Consider talking to a lawyer.
Don’t:
- Admit to owing the debt.
- Make promises you can’t keep.
- Give out personal information.
- Lose your temper.
- Ignore the debt.
- Be afraid to say no.
- Be afraid to fight back.
By following these tips, you can take control of the situation and protect your rights. Remember, you have the right to be treated with respect, and you don’t have to put up with harassment or intimidation from debt collectors.
You have protections against harassment
While speaking with a debt collector can be beneficial, it’s also critical to understand that you are shielded from harassing, excessive, or repetitive correspondence. When debt collectors harass, intimidate, or mistreat you, they are breaking the Fair Debt Collection Practices Act.
You have the right to request that the debt collector call you at a more convenient time or location if, for instance, they are calling at an inconvenient time or place.
If youre having an issue with debt collection, you can submit a complaint with the CFPB.
Communicating with debt collectors
You can correspond with the debt collector using these sample letters in addition to using the validation information to follow up with them:
It’s crucial to use any of these letters as soon as the debt collector gets in touch with you and to preserve copies of all correspondence you send and receive. In certain circumstances, you may only request specific information within 30 days of being contacted, but it’s still a good idea to follow up and request what you require even after that time has passed. Note: These sample letters are not legal advice.
If it is not your debt or you already paid it, providing documentation can also help your dispute. Request any documentation the debt collector has that proves you are the rightful debtor and that they are using to determine the amount owed. You can also notify the debt collector in writing to stop communicating with you.
Do NOT Pay Collections Agencies | Debt Collectors EXPOSED
FAQ
What is the 11 word phrase to stop debt collectors?
What should I not give to a collection agency?
What happens when a collection agency contacts you?
When should you contact a collection agency?
After evaluating the debt and coming up with a plan, it’s time to contact the collections agency. Consumers have 30 days from the initial communication about the debt (for example, the first letter received explaining the debt is in collections) to call the collector and ask for the debt to be verified in writing.
How do I know if a debt collector is legit?
When a debt collector calls, ask questions to find out if the debt and the debt collector are legit. You should find out: What information does a debt collector have to give me about the debt? A debt collector must tell you the name of the creditor, the amount owed, and ensure you can dispute the debt or find out if it is legit.
What should I do if I don’t talk to a debt collector?
First, decide if you want to talk to the collector. If so, keep a record of what you and the collector discuss. You might consider telling the collector if you think the debt isn’t yours or can’t afford to pay the debt. But if you decide not to talk to the collector, you can send a written request that the collector cease communication with you.
What should I do if a debt collector refuses to pay?
Consider sending your letter by certified mail and requesting a return receipt to show that the collector got it. Keep a copy of the letter for your records. If you don’t dispute the debt within 30 days of getting the validation information, the debt collector will assume the debt is legitimate. What are debt collectors not allowed to do?