How to Deal with A Debt Collector


So, for whatever reason, you have found yourself drowning in debt and now the debt collectors are calling. It is so stressful! What are you going to do? How are you going to deal with these nagging, aggressive, abusive collectors?

 Stay calm. I'm here to help, so let's look at a few steps you can take when dealing with debt collectors. (I am consulting a few places online for information, namely The Financial Consumer Agency of Canada.)

First thing you have to do is to find out whom you are dealing with. Is it the original creditor or a collection agency? Usually, before the collection agency calls you, you will be notified beforehand that your debt has been turned over to them.

 Write down the name and telephone number of the person who is contacting you as well as the company name. Also, be sure to get the amount and other pertinent details regarding the debt owing. That way you can check your records and verify the debt. Tell the collector you will call them back as soon as you have checked everything out. And do call back! Don't use this as a ploy to avoid dealing with debt.

 If the debt is yours, then do what you can to pay it off. Can you pay the entire amount at once and get them off your back? If you can't do that, is there a way you can arrange to make payments?

 If the debt isn't yours, then tell the debt collector and contact the original creditor to find out what is to be done next. As well, you should get a copy of your credit report - free - from Equifax Canada and Trans Union to see if it appears there. If it does, you will have to report it as an error to those agencies as well.

We have all heard stories of how relentless debt collectors can be, how they terrorize those who have fallen behind on their payments. But there are many things debt collectors are not allowed to do.

 They CANNOT contact your employer, friends or family for any information besides an address and/or telephone number. Unless you have given them permission to do so.

 They CANNOT use abusive or threatening language.

 They CANNOT contact you on holidays, between the hours of 9pm and 7am and on certain hours on Sunday.

 Of course, rules will differ depending on the province you live in so check with your province for more information.


If you feel that you are ready to gain control of your debt, then stop trying to figure it all out on your own and make sure you don’t go another year without gaining control —click here
 
I might be able to help you by supporting you through the 5-Step Financial Stability program that I have used to get control of my financial situation. click here

To your success, 

Karen Magill 

P.S. It is NOT right for everyone – but if you feel having me working with you almost “daily” & giving you a proven step by step system to follow will help you get your  finances and life back on track then for more details. - click here 





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