3 Things Not to Do With Debt Collectors
(1) Don’t ignore their calls. Failing to call them back isn’t going to make your situation improve. IN fact, your interest will accrue, your account will be passed on/sold, and they will eventually (hopefully legally) begin contacting your friends and family members.
(2) Don’t fail to show up to Court Dates. If you have been sued and given a date to appear in Court, appear! Although you might be nervous about appearing in Court, you will gain nothing by not appearing. The additional stress that appearing will cause will most likely be worth it. If you have a reason that you shouldn’t be responsible for the bill (it’s not yours, etc.) feel comfortable telling your reasoning to the Judge. Worst case scenario, the Judge will disagree with you. This is much better than the alternative (See my posting about being imprisoned for not paying your debts). Always appear for your court dates.
(3) Don’t Make False Promises. Most collectors are willing to work with you on developing an mutually agreeable repayment plan. If you are not going to have money for three months, tell them you are not going to have money for three months. If you only plan on paying $20 a month, tell them that this is the maximum amount you are able to pay. If you break under pressure and agree to pay something you can’t afford, this will cause significant future problems. First and foremost, it will make you seem dishonest. When I was collecting debts, I always believed that if debtors were able to pay an account they would. Its hard for me to believe that debtors are intentionally not paying debts; the stress associated with doing so isn’t worth the money saved. When I was on the other side, if one of my Debtors lied to me, a bond was broken and anything they told me in the future lost value. Also, let me be clear, I am not using “debtors” in its negative connotation; almost every American is a Debtor; we are a nation that largely lives off of credit. Be honest with the collection agency you are dealing with. Do not agree to any repayment plans you can’t afford. More importantly, don’t agree to a check by phone, etc. if your account can’t handle the withdraw on the scheduled date. Otherwise, you may not only owe a debt, but you may also have committed a crime (passing a bad check).
If you have questions about what to do or what not to do regarding the collection agencies that are contacting you, please give us a call. We would be happy to assist you. 1-866-339-1156
Jeffrey Hyslip
