Even though it’s stressful to deal with debt collectors, ironically, it’s when your account is past due that you are often in the best position of all to negotiate with bill collectors and collection agencies. You have something that bill collector wants – cash.
They also have something you want – the power to update your credit report, and to go away. So your strategy, in a nutshell, should be to dangle the cash carrot before their eyes – whatever amount of cash you have. Read on for more tips about your options for dealing with debt collectors.
Q: I was talking to a collection agent about making payment on a bill and she kept saying “how much can you pay, I cannot guarantee it will stop further action.” I felt I had to say an amount but ...
Have you ever had a crazy debt collector who just wouldn’t leave you alone? I’m talking about the kind of bill collector that calls you at all hours of the morning and night, who calls over and over and over ...
Q: What can I do about a credit union that took money out of my account (my SSDI) to pay off a past due bill I owed them? A: If a credit union took your money to collect past due payments it's likely ...
It’s no picnic when your bills are overdue and debt collectors are calling you at all hours, harassing you non-stop at home or work. But just because you may (or may not) owe some company money, that doesn’t give an ...
Dealing with debt collectors is stressful. They call at all hours of the day and night. They hound you for money - whether you're working or unemployed. And they generally make life unpleasant when you owe them, or one of ...
Q: If there is a debt that that does not appear on my credit report and it is past the time that they can report it do I have to pay it? What can I do to stop having this ...
When a debt collector contacts you, one of the first things you need to do is verify that their claim is legitimate and if it is, confirm that the debt collector is actually licensed to collect on that debt in ...
Q: "I have two credit cards that went into collections. I went through some financial difficulties and fell off on paying them due to having to pay other bills first, like my home and car, et cetera. Now one of ...
Beware of calls from shady, unlicensed collection agencies and their verbal threats to garnish your wages. I recently heard about people receiving repeated calls from the PDLR Group. Apparently representatives from PDLR were threatening to garnish people's wages and consumers ...
Fed-up consumers are fighting back against overly aggressive debt collectors, slapping collection agencies and creditors with a record 7,923 lawsuits from January 1 through August 15, 2011, according to a report in Collections & Credit Risk. By comparison, in the ...
A New York-based collection agency has been slapped with a lawsuit for allegedly making a bogus threat to sue a Louisiana woman. The company in question is called Global Credit & Collection Corp. As a debt collector, it must abide ...
One of the options you have when you can’t pay an outstanding debt is to renegotiate the terms of your agreement directly with your creditor. You might choose to do this before the account goes to collections so that the ...
If a bill collector has started to contact you about an outstanding debt and is using some intimidation tactics to get you to pay up fast, you need to be very careful about what you say to them and when ...
When debt collectors are contacting you regularly and you’re wondering if you should just pay off the debt to get rid of them, stop! Many consumers don’t realize that the debts some bill collectors are chasing after aren’t the consumer’s ...
Have you ever been harassed by a bill collector because of a past due bill? If the answer is ‘yes’, the bill collector is in violation of a Federal law. The Federal Trade Commission (FTC) is the country’s consumer protection ...