STOP Collection Agencies from Calling You

Don’t be intimidated:   Most people are terrified of Collection agencies for assuming they might get sued.. In actuality, collection companies are even easier to deal with than your original creditors, not to mention collection accounts are much easier to remove from your credit reports than original creditor accounts.. This is usually, because collection agencies are generally notorious for having poor, outdated, or missing documentation. Not to mention, most fly by night agencies cut corners because of cost and therefore are not actually authorized or legally licensed to collect. Since the vast majority of collection agencies purchases old noncollectable debt from larger companies who couldn’t collect… they almost always have very little money tied up in the actual collection. As a result of their fragile status and positioning, you have quite a few options for dealing with them.

Negotiate like a PRO:  Collection agencies prioritize the debt they purchase according to how much is owed and the age of the debt. Anything older than 2 years usually gets placed in archives, becomes noncollectable again, and eventually, resold to another collection company at an even cheaper rate, because of it’s apparent age. Knowing this bit of information…gives you power, because the agency would rather you pay something instead of nothing. Before you agree to pay anything however, be certain to request a letter of settlement by mail or fax, “Indicating the Debt which you are paying will be settled in full and removed/deleted from your credit profile”. If you simply pay off a debt without acquiring a letter of settlement with your terms laid out. The debt will just show up on your credit reports as paid/settled and that is still extremely bad for your credit score.

Get Aggressive:  As a consumer…You’re protected by the Fair Debt Collection Practices Act (F.D.C.P.A.) and the Fair Credit Reporting Act (F.C.R.A. These to laws force the collection agency to comply and provide documentation that the debt is valid and legally collectable if you request it.

As a consumer…you also have the power to STOP all Bill Collectors and Collection Agencies from calling and continuously harassing you…Forever!  All you have to do is mail them a Certified Cease and Decease letter indicating that you would no longer like to be called either at home or at work. The collection agency will only be able to contact you through the mail after receipt of your cease and decease letter.

If you're a consumer who's been harassed by creditors or collectors...there's a way for you to fight back.

Try Credit and Collection STOPPER!