Excessive debt is a problem no matter what.  But when you stop being able to keep up with the payments, that’s when you have real problems. When this happens, it probably means that you will start receiving some calls from people on behalf of your creditors.  These calls will probably be extremely persistent bugging you day and night, and filling up your voice mail box with tersely worded requests to call them back.

If you have found yourself the target of debt collector’s calls, here are some important things to keep in mind.

Don’t write bad checks – Debt collectors can very aggressive and persistent. It can even get the point where you will be tempted to just send off a check made out to the requested amount in hopes that this will be enough to placate them.

It won’t.

They will keep calling and you will have to pay fees to your bank.  Instead of trying to give up money that you don’t have, try and speak with the debt collectors to hammer out a payment plan that might be more reasonable for.  All creditors want to be paid, and they are often willing to work

Don’t Be Harassed – People who call on behalf of creditors have to operate within the law.  This means that they can’t call you before Eight in the morning or Nine at night (unless you explicitly tell them that they can).  They aren’t allowed to threaten you with prison or tell you other lies.  And they aren’t allowed to hurl curses or expletives at you over the phone, (or in person for that matter).  If any of these things happens, be sure to record them.  They may prove valuable if they attempt to take you to court to recover the debt.

Request that Debt Collectors Stop Calling You –  If necessary, you have the ability to stop the debt collectors from calling you entirely.  All you have to do is send them a clearly worded letter requesting for them to stop calling you.  After they receive this, they are legally obligated to stop calling you, or else be subject to large fines.  If you choose to go through route, you should probably send the letter registered mail, so that they can’t possibly claim that they didn’t receive it.

Don’t Give Up Free Information – When debt collectors call, they aren’t just trying to get you to pay up a certain amount.  They are also trying to get as much information as possible about your bank, employment, and general financial information. If they decide to pursue the debt in court, this information will be used against you.  So to protect yourself, don’t give away any information about yourself or your income.

Really, there is just one real way to stop the debt collectors: develop a plan to pay off your debts.   Even debts that may seem insurmountable can be negotiated and dealt with if you sit down and plot out what you need to do. By developing a smart strategy you won’t only be able to stop the debt collectors, you will eventually be totally free from the burden of debt.
If you have debt, we can help. Just complete the form on this page and we will call you with details of how we can work with you to help settle your debt and get you back on the road to financial well being.