Debt Collector Basics Part Five: Getting Proof Of Payment And Avoiding Future Phone Calls
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In the first four parts of this series I defined the term collections account, wrote about how sending delinquent accounts out to a collection company profits a creditor, and wrote about the practice of selling an old debt to a third party collection company.
I wrote about the kind of data that a collection agency will get to utilize in their efforts, and the type of laws that third party collection agencies must follow. I described illegal and legal tactics that debt collection agencies use to collect.
I spoke about how many bill collectors realize that it is key to collect on your accounts as soon as possible. Many will ask you why you can't pay today, and many will attempt to manipulate your emotions or insinuate that you are fiscally irresponsible to upset you into agreeing on a payment. After a frustrating and upsetting phone call with a specific debt collector, this agency employee may put you on the phone with a supervisor, and you may be prone to agree to something that you ordinarily would not agree to.
As a general rule, debt collection agencies are slow to report that an account has been paid or transferred to a different agency, so it is imperative after you pay that you get proof of payment. In the future, before an account goes delinquent, if you have missed one or two payments, contact your creditor before they send your account to collections. Many times a payment plan can be worked out.
Best case scenario, you can predict that you won't be able to pay and call your creditor in advance. Let them know you don't anticipate being able to make payment and ask them if there is any way anything can be worked out. Many times, in situations like this, an agreement can be made without any penalties or late charges.
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