Why you should NEVER ignore debt collection calls
If you are in debt and receiving calls from a debt collector, it's important to know that the call is not just a nuisance. A debt collector has the power to settle your debts for the best value for yourself. Here are some reasons why you should not ignore your debt collectors:
Debt collection agencies are professionals.
Debt collection agencies and their agents, at their core, are professionals. They know the law, and they have years of experience in this field. That being said, they have many avenues of approach to help you eliminate debt and avoid future calls. While debt collectors can report your information to credit reporting agencies, which can impact your credit score and make it difficult for you to obtain loans or buy a car in the future, most do not want to keep you in the debt mill, striving instead to develop courses of action designed to be flexible and relieve burdens.
If you are in debt, it is important to work with a professional to get out of debt
If you are in debt, it is important to work with a professional who knows the ins and outs of debt collection.
A professional will be able to help you:
Understand the law
Make a plan
Avoid paying more in interest
Your debt is being transferred to a debt collector. This means you have a chance to negotiate with your debt collector.
As part of their service, some debt collectors will negotiate with creditors on behalf of their clients. This may include negotiating with the original creditor or even other collection agencies that have purchased or otherwise acquired the same account from an original lender (like a bank).
A debt collector may be able to help you get back on track financially and avoid legal action in the future.
A debt collector may be able to help you get back on track financially and avoid legal action in the future. If a collector calls you, don't hang up! They are not your enemy - they're looking to help.
If you have unpaid debts and are unable to pay them back, a debt collector can work with you so that they stop calling and harassing you while at the same time helping you find ways to repay or settle your debts. This may include consolidating debt into one monthly payment or refinancing loans with lower interest rates or lower payments overall so that you're no longer struggling just trying to make ends meet each month.
If nothing else works, then as a last resort, bankruptcy could be an option for those who owe more than what they can afford each month but still want their own freedom back.
Don't ignore debt collection agencies; give them a chance to help you work out a fair payment plan or settlement
Don’t ignore debt collection agencies—give them a chance to help you work out a fair payment plan or settlement.
When it comes to debt, there are three things you don’t want:
Paying the wrong amount. Check your statements and bills for accuracy. Make sure that you are paying the right amount on time every month. If something doesn't look right, call and ask questions before making any payments.
Paying twice for the same debt. Don't give money to scammers who claim they can get rid of your debt but really just steal from you instead! Only pay collectors who work for legitimate creditors such as banks or credit card companies; check their credentials before sending money!
Letting debts go into collection accounts without knowing what they are or how much they're worth (or if they're even real). Many people struggle with high-interest credit card balances because they don't understand how these accounts work—and because their balances keep growing while interest rates continue rising along with inflation!
Conclusion
If you are struggling financially, it is important to get help as soon as possible. Do not wait until it is too late and litigation befalls you.
Our team of professionals are ready, willing, and able to help you get back on track and build a better financial outlook.
