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