During trying economic times, companies and individuals can often find themselves with more debt than can be comfortably handled. Specially during this recession. Here are some tips on how to handle your creditors.
Don't take it personally. It will help you to remember that a collection call, no matter how unpleasant, is a business transaction. Not an assault on your personal character.
Remember that is a frequent practice for collectors to attempt to intimidate and scare you. Collectors are paid based upon what they collect. Keep all conversations to the point, professional, and focused on the debt; not irrelevant matters.
Federal law prohibits collection calls before 8 a.m. and after 9 p.m. Nevertheless, many hard-hitting collectors would like to catch the debtor late in the day or early in the morning when they may be more susceptible to emotional pressure.
Let the answering machine work for you at those times. But, when you're ready, emotionally detached, and prepared to deal with it, return each and every call, even if it's just to say, "I have nothing today. " Not responding to phone calls will escalate your account through the collection process and the situation will quickly become out of control.
Remember your rights. In 1996, the Fair Debt Collection Practices Act (FDCPA) was enacted. It specifies that debt collectors cannot harass you. Specifically collectors cannot: call your office, call your home before 8 a.m. or after 9 p.m., address you in an abusive manner or call family or friends in an attempt to collect the debt.
Get an attorney. If you have an attorney, the collector may not contact anyone other than your attorney. And that is a relieve for you!
The Baez Law Firm, P.C. is a general practice law firm that is ready to help you during difficult times. We handle bankruptcy, criminal law, personal injury, family law, business law, consumer law, litigation, and appeals.