How to Deal with Debt Collectors

If you have to deal with debt collectors, no matter what the reason may be, then you know that these collectors can be difficult to deal with. While it is their job to collect debts from you, it can be very challenging to interact with these individuals, especially if you don’t have enough funds to cover your debt. These debt collectors need to be strong and forceful in their line of work in order to get debts from individuals, but that doesn’t meant that you need to feel like you are being bullied by these individuals. It also doesn’t mean that they won’t be trying to manipulate or trick you when it comes to paying back your debts. With this in mind, here are some important tips to remember whenever you have to deal with debt collectors.

Don’t talk with them until you have everything in writing.

If a debt collector is trying to negotiate a deal on the phone, don’t give your approval until you have everything in writing. You need to make sure that you have proven records of your agreement, before they start taking payments from you. This is the number one mistake that people tend to make. You may think that you have agreed to something over the phone, only to find out that you have be coerced into something completely different. Always have everything in writing. Once you pay your debt, it will be marked “paid in full” on your credit report, which can allow creditors to look at you more favorably.

Maintain detailed records of conversations.

When you have a conversation with a debt collector, whether it is for a personal or professional debt, you need to make sure that you are keeping detailed records of every conversation and interaction. Even those on the phone. Keep these detailed records in your possession, even after the debt has been settled, you never know when you will need to go back and reference a conversation or prove that you did or did not agree to something. If your debt collector breaks the rules or does something illegal, you will want to make sure that you have a record of all of your conversations so you can prove it in a court of law.

Negotiate hard.

When you meet with a debt collector, they are going to push you hard to take the offer that they put on the table. However, this doesn’t mean that you can’t negotiate back. Their offer is not set in stone, so don’t take it right away. Start negotiating and make sure that you negotiate hard. Don’t let debt collectors push you or bully you into taking a deal. You have room to haggle so make sure you do it.

Dealing with debt collectors can be an unnerving process, but it doesn’t mean that you have to let the experience shake you. Keep these tips in mind when dealing with debt collectors so you can get through the experience in the most positive way possible.