There is no greater fear in consumers with bad credit than getting a call from a debt collector or collection agency. Often times, debt collectors will use intimidation and scare tactics to try and recoup the money that’s owed to them. If you are contacted by a debt collector, follow the steps below to protect yourself and your assets:
Explain Your Rights
As a consumer, you have a lot of rights against collection agencies. Often enough, you can simply stop the harassment by telling the debt collector that you know your rights. Collection agencies cannot call you after 9 PM to 8 AM.
Collection agencies also cannot threaten arrest or legal action. Lastly, collection agencies must stop contacting you if you ask them.
Get as Much Info as Possible
If a debt collector calls, be sure to gather their info. Take note of the time of the call along with the debt collector’s name, their company, and their employee ID (if applicable). Make sure to ask them which account they are calling on behalf of and the exact amount they are trying to collect.
Verify it All
Sadly, there are many scams that are apparent in the world of debt collection. Never pay a debt until you have verified that the collector is real and the debt they are calling about has been validated. Many scammers will trick consumers and tell them that a debt is theirs when it really isn’t.
Get it in Writing
When you make an agreement with a debt collector, never keep it verbal. A verbal agreement has almost 0 chance of being upheld in a court of law. If you do reach an agreement or a compromise with your debt collector, make sure you get it in writing with their full name and company they work for.
All in all, dealing with collection agencies is a great hassle. If you are buried under a mountain of debt and ready for a fresh start, CrediReady can help. Our nationwide network of trusted and experienced lawyers are prepared to give you a FREE bankruptcy consultation to help you. Take a moment to fill out our inquiry form today to speak with your FREE attorney.