Dealing with debt collectors

Can anyone be anxious when the collectors are constantly calling and sending threatening letters of demand. Of course there is a protection in a number of forms and ways you can do with the debt problems you have.

There is a law that provides guidelines on what a debt collector can and can not do when you are trying to collect a debt. It's called the "Fair Debt CollectionPractice> "law. The law says, among other things, that debt collectors are not allowed to call before 8:00 or after 9 pm, they can not garnish wages in states in which it was declared illegal and must cease the phone still asks if you ask.

There are several things you can do.

Do not take the call. Use an answering machine to screen calls. For those who have Caller ID or call blocking, you will be able to get ridthe call completely.

If you decide to take the call, it is entirely reasonable for you to request that no further contact you. If you send the body to "cease and desist" letter, so they are legally prevented from contacting you. Any legal action can be expensive, so it is prudent to try other avenues first.

If the debt is actually your payment, if possible, you should think about the payment. After all, it is your responsibility and must be paid. If youvery difficult to pay, then maybe you can negotiate a way to make regular payments and low until the debt is paid in full.

Make a commitment and stick to it and stop bothering calls. These collectors are real people doing their jobs, although some of them are less than nice about it and that usually does not cause discomfort once you have an agreement with them.

Keep track of the calls that were made for you or for youin a newspaper, and arrangements were made. Keep track of when asked to stop calling - this is very important if you call your workplace. If it is legal in your state, you may consider recording the call, but keep in mind that often means you have to say the person is another record.

There are many collectors who have the courage (or recklessness), to say things that could be jeopardizedif they discover they are being recorded. The journal or diary is helpful when you have negotiated a change in the payment scheme.

Most debt collectors are able to agree a lower payment, but usually receive a commission because based on the rate of collection, push to pay the closest integer value as possible. However, I understand that if you are able to pay 50% of 500 €, it is preferable to receive 100% of nothingat all.

When an agreement, the collector must also pledge not to put any more negative comments on your credit report or credit rating. Ask them to report any payments you make as soon as possible to adjust the amount owed accordingly.

Be sure to get agreements in writing before sending money. A faith "by" pay is good, and prove they are sincere in their efforts tocancel the debt, but if you send too many at once, it will be less likely to adhere to their part of the contract.

There are three things you should always have when it comes to debt collection: patience, a remaining calm and realistic when it comes to financial matters. If you remember them, to reduce the stress of the situation.