There are two ways to approach being in collections. Most approach it with fear and stress. A few learn how to deal with it in the right way, with education and a positive attitude.
A positive attitude? Yes. You see the debt collector is not someone to fear, but someone who is trying to collect a debt that is owed.
The collector either is contacting you and it’s a mistake, or for whatever reason, you’ve found yourself in a jam and and fallen behind on your obligations. It happens.
And the experienced debt collector knows the easiest way to manipulate you into doing what they want you to do is to intimidate and scare you. If you stop fearing them you take their power away.
Not all debt collectors operate like that though. Some actually understand that they are really problem solvers and want to work with you to find a way to resolve the debt problem. It’s far more productive for you to try to make the collector your friend.
Steps to Take
- Familiarize yourself with the articles below. Read them all.
- Do not admit to owing the debt until the collector can prove it.
- Follow the debt validation advice below and ask the collector to provide detailed proof that you actually owe the debt.
- Do not rush to send the third party debt collector a cease and desist letter. It would be better to keep the lines of communication open till we can figure out how to best deal with the debt and overall situation.
Before you start panicking about being in collections, I really need for you to take a deep breath and evaluate if this isn’t the sign of larger financial problems brewing. Maybe the reality is that rather than reacting to the debt collector as an isolated occurrence, we should take this opportunity to look at your overall situation and come up with a game plan to deal with everything, at once.
I’d like to invite you to use the free How to Get Out of Debt Calculator to review your options.
If you think you are getting the run around and you become unsure what to do, ask me for help.