Let’s see the common mistakes people make when dealing with

debt collection

agencies.

Debt collection

agencies get utterly aggressive when they do the

debt collection

. They can make your life a hell when they call you or your neighbors late at night, or call your employer, send you harassing emails – the inventory of

debt collection

agencies is really huge.

However, sometimes people make things even worse when dealing with

debt collection

agencies:

- If you avoid the phone calls from

debt collection

agencies they start calling you even more. So, pick up the phone and say what you have to say – either ask them to stop calling or tell them you are going to pay as soon as you can. There are ways to legally ask them to stop calling you – send them a Cease and Desist Letter (see the sample in our database).

- Don’t lie to the

debt collection

agencies by telling them you already sent the money. Mind that the

debt collection

agencies have the right to sue you for a lie.

-

debt collection

agents may try to persuade to give away your checking or savings account number with your bank. Never do that!

- Don’t let the

debt collection

agents intimidate you! After all, all they can do is continue calling you and sending you emails.

- In case you don’t have the money to pay your

debt collection

agency, ask for an alternative debt repayment plan, but do not send them invalid checks that can be dishonored. You will then be charged a fee from your bank for the insufficient funds. Most likely, your

debt collection

agency will sue you for lying and issuing bounced checks.

- Another mistake many people having credit card debts do is to ignore the fact they owe money. They avoid checking their credit card statements, or analyzing their debt amount and trying to work out a self repayment plan. The fact is the longer you ignore the debt, the worse it becomes.

- If you borrowed the money to buy some asset and then you sold it while still being in debt, your

debt collection

agency can sue you for the money or repossession of that asset. So, don’t sell the asset you borrowed the money for.

- In case you think your

debt collection

agency harasses you while you don’t owe them anything, don’t wait to dispute that debt. If you procrastinate with that you can make things worse.

- If you agreed on a debt settlement plan and are making payments, make sure you receive a payment confirmation in written form from your

debt collection

agency. Also, check your credit report two months after you paid out your debt. Your report should have the information that your debt has been ”Paid In Full” or “Settled”.