Dealing with Collection Agencies
If you've gotten behind in your payments to the point where collection agencies have gotten involved, you know what a nightmare they can be. Some of these agencies employ the nastiest people they can find. Threatening, discouraging and pushy, receiving calls from collection agencies has to be one of the most stressful aspects of being in debt. Collection agencies hungrily feed on your fears and guilt, using aggressive techniques. We know that by the time a collection agency gets to you, you don't have the money to pay up, otherwise you would!
Your guilt tells you that you deserve these calls - you owe the money, after all. However you may not know that you do have some legal recourse to stop collection agency harassment.
While you are repairing your credit, you can elliminate these disturbing phone calls. For your peace of mind, follow these steps:
- Make a record of every call you receive from the collection agency(s). Include the date and time of the calls (they cannot call after 9pm your time), where they contacted you (they are not allowed to contact you through employers, for example). If any threats are made, be sure to make note of them! Often times a zealous collection agency will threaten you with actions they cannot legally make.
- Once you have a comprehensive record of the calls, tell them to stop calling you, that you will deal only with the original creditor.
- Send them a letter via registered or certified mail informing them that if they do not cease and desist, you will pursue legal avenues as outlined by the Fair Debt Collections Practices Act
- Be sure to keep copies of all correspondence, along with the documentation of their calls as outlined above.
The annoying and harassing phone calls should lessen, if not stop altogether. Now that your mind is clearer and the stress has abated somewhat, it's a good time to attack the problems that got you into that situation in the first place.
You may need to Repair your Credit, before you can find your financial feet again. If your credit is still good, you may want to consider obtaining a Consolidation Loan.
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