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3 Tips for Dealing with a Debt Collector

Even the most financially responsible people can be faced with the prospect of a debt collector. This could be down to something as simple as a bill being overlooked. In a more serious situation, you might be in dispute with a creditor due to how much is really owed. 

Whatever the reason, it’s essential you never ignore a debt collector and resolve the issue as soon as possible. Once out of the way, those collection calls and letters will cease, the possibility of being sued over the debt is gone, and your credit history will be improved. 

With that said, simply paying off the debt often isn’t the best solution – especially if you’re in disagreement with the amount owed. So before you attempt to rid the problem once and for all, consider the following three tips for dealing with a debt collector.

Understand your rights

Once you receive contact from a debt collector, don’t respond to them straight away. It’s crucial for you to understand your rights. Remember that debt collectors are savvy and will try to squeeze every penny out of a case, so you cannot let them take advantage.

Remember these points: 

  • Unless they receive a court judgment, a collector doesn’t have permission to take money from your bank account, seize property, or garnish your wages.
  • They are not allowed to harass you when in contact. 
  • They cannot threaten action against you that is illegal. 
  • If a debt collector decides to interact with your friends or family members, they are only allowed to request contact information. 
  • As dictated by the statute of limitations, a debt is only legally enforceable over a set period of time. 

Don’t be bullied

Along with keeping the previous points in mind, you also need to ensure that a debt collector doesn’t intimidate you. For this to happen, it’s vital not to give away any information they can use against you. 

This means you need to keep your emotions in check, only talk to them about the offer, and never divulge about your other financial obligations and income. 

Regarding the latter point, remember that debt collectors have free access to your credit report. This means they can check if you’re making payments on time with other accounts, or if you have applied for any new loans. If they gain any information like this, they can start pushing towards you paying more against your debt than what they’ve offered. 

Bring in professional help 

If you feel you are being unfairly targeted, or if you’re inexperienced at negotiating debt-related issues, it makes sense to enlist the services of a specialist law firm. They will have the knowledge and expertise to get you the best deal possible. 

This is particularly pertinent if you’re sued by the creditor over the debt. You will need someone to fight your corner, and it only makes sense to receive help from the best debt lawsuit legal firm available. 

It might seem like an unnecessary expense to add on top of the debt, but a lawyer might be able to quash the debt entirely. Plus, the plaintiff may even be ordered to pay their legal fees, effectively making it free for you to use their services. 

 

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