Top Ten Tips for Dealing with a Debt Collector
Are you being molested by your loaner? Do you want to stop debt collector calls? Fortunately, there are consumer rights involving debt collectors. Unfortunately, not many people know about them.
Owing money isn’t a very nice situation, and debt collectors exploit that emotion in order to make you feel bad about it.
But that isn’t fair. That is why the US government decided to take some measures about it. So, let’s find more about your rights as a consumer and some tips on how to deal with debt collectors.
What Is A Debt Collector?
A debt collector is a company that has been contracted for collecting money from an individual or a company. For a small fee, the debt collector will start making calls, sending letters or even emails to the people who owe the money. This type of pressure is considered, by many, the only choice for collecting debts.
Since there were many reported cases of abuse in debt collecting, the US government decided to take the matter into its own hands. That’s why, in 1978 (almost 30 years ago!), the Fair Debt Collection Practices Act was approved. With this act, the debt collection industry was placed under the supervision of the Federal Trade Commission (FTC).
Although it has been almost three decades since the FTC became in charge of the debt collecting industry, there are still thousands of cases of inappropriate behavior by debt collectors. In 2005 alone there were 66,000 consumer complaints about unlawful practices. It seems that sometimes, legal rights and debt collectors do not mix adequately.
Top Ten Tips for Dealing with the Debt Collector
Stay Calm
The first tip is to stay calm. Debt collectors are experts in determining if you are nervous because of their call. They can easily detect it in your tone of voice. If they notice this weakness, they know that they have someone that can be pushed over.
It isn’t easy to control emotions, but at least we can take some measures. For example, speak slowly and calmly. This won’t transform you into an emotionless entity, but at least it will give you a level of defense against these people. And, do not mistreat the debt collector. After all, they are people doing their job. If you mistreat them, they will react negatively, as the majority of human beings do.
Ask many Questions
The second tip is to ask as many questions as you can imagine. This won’t be expected by the debt collector since they are accustomed to people who assume a defensive position. By asking questions, you will be able to learn things that you may not have been even aware of.