What Do You Mean Talk to the Debt Collector

Before you engage in any conversation with a debt collector, it is incumbent upon you to read the Fair Debt Collection Practices Act which requires that “debt collectors treat you fairly and prohibit certain methods of debt collection”. Here are some suggestions as to what you should do in case you are in debt and receive a call from a debt collector.

1. When a debt collector calls you may be taken off guard. Whether you owe the money or not, they will make the situation sound more urgent than it really is. So if they do call, ask questions such as: How much do I owe? Who is the creditor? What date was this debt incurred? These questions may or may not be answered, depending upon the caller. Be sure to ask for their name and telephone number.
   After you hang up, check your credit report to determine if in fact you do owe money and what credit card company shows this debt and for what amount. Next, relax and take a deep breath. Once the debt collector calls, they will continue to call until the debt has been paid. While you have rights under the Fair Debt Collection Practices Act, you also have several options.
2. It is important to understand that you cannot make a deal with the debt collector. Their sole mission in life is to harass you until payment is made. To prepare for this, record all calls received from them. If they threaten you, you can turn the tape over to the District Attorney or the Federal Trade Commission. Keep in mind that you have food, rent, and other necessities which have to be given first consideration. While the debt collectors will continue to call you, don’t fall under the impression that you can make a deal with them. The truth is you can’t. If you decide to talk to them, use a calm voice and don’t get excited – this can only aggravate the situation. Always ask the name of the person calling and record the call.
3. If the debt collector calls your boss about the debt, a letter should be sent to them via certified mail, return receipt requested, stating they are to cease calling your boss or anyone else. Under the law, they must abide by the letter. If the debt collector is NCO, who are notorious for harassing people and against whom many complaints have been filed with the FTC, just follow the aforementioned steps. Once they receive your letter, they can no longer subject you to threatening or harassing calls.
4. The debt has to be paid eventually, but only based on what you can afford to pay. Therefore, you may have to tell the debt collector that you will pay down the debt and give them the precise amount you can afford. This will alleviate the stress on you, and by calling them to advise the amount that has been sent, you are dissipating their need to harass you.
5. Finally, if you cannot afford to make a payment one month, call them and advise them. Keep records of your calls to them as well. There is nothing they can do as long as you are paying down the debt and calling them at the same time. This takes the proverbial wind out of their sails. Never stay on the phone with any debt collector who is abusive or threatening. Hang up and when you are ready to talk to them, make the call.