Debt Collection

Most people feel overwhelmed when dealing with debt collectors. They send you nasty letters, call at inoportune times and have the advantage when it comes to negotiation. They've been through the collection processes thousands of times, this is most likely your first. Fortunately the law is on your side. This section will teach you how to deal with debt collectors.

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Debt Collections: Stop the Phone Calls

There is nothing worse than receiving a phone call from a collections department every twenty minutes throughout the day. You know the feeling when your phone rings, and you know before checking the caller ID who it will be! Many people just stop answering their phone completely, or will go to great lengths to make it difficult for the debt collectors to call them. [ READ MORE ]

Debt Collections: How to Pay of Accounts in Collections

Next to bankruptcy, having an account in collections is the worst entry you can have on your credit report. It will lower your score, and make it difficult- if not impossible- to obtain new credit. Creditors realize that if you have an account in collections that it went unpaid for a long period of time, and it makes them fear that if they lent you money they would not receive payments on time, either. [ READ MORE ]

Use the Statute of Limitations of Debt to Your Advantage

Debt collectors do not have an indefinite period of time to continue trying to collect payments from old debts. There is an “expiration date”, called the Statute of Limitations, that prevents debt collectors and/or the original lender, from pursuing you for the rest of your life on old debts. [ READ MORE ]

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