If you owe money to creditors and never pay, soon or later, you will start to receive disturbing and stressful phone calls from debt collecting companies. If you keep ignoring the calls, soon or later, they will knock on your door from time to time until you pay back what you have owed. The debt collector’s visits to your house can be very embarrassing especially when they speak loud until your neighbors heard that you are in serious debt problem. So, don’t ignore the calls from debt collectors and let them have a chance to visit you. What should you do if you receive telephone calls from debt collectors?
“Answer the call and let them know you have a problem to pay back the debt”. Ignoring their calls doesn’t get your debt problem resolve; instead, you will have unwelcome visitors from debt collecting companies, putting you in more embarrassing situation. So, a better way to deal with them is to face them and get a solution out of it.
When the debt collectors call you, they normally will ask you to pay back the amount your owe them. They will force you to give a committed date to settle the amount. Don’t panic! Don’t get angry and rise up your voice to tell them you have no money because it is their job to collect the money from you because you owe them. With a nice tone, tell them you are facing a financial difficulty and you have hardships to settle the debt and you are trying to find ways to resolve it, but unfortunate you have no solution at the moment. Then, ask them if they have a better solution such as let you pay some amount first while giving you some time to find a debt solution to settle it. Generally, they may not agree with your proposal, and they may threaten you that they will take legal action and probably will sue you for bankruptcy. Again, don’t panic! Keep negotiate with them until you get a temporary solution that gives you some times to find a better debt relief solution.
Most often, debt collectors can’t do much if they find you really have no money to settle the debt your owe them, what they probably ask you to do is to ask you to pay a portion of amount first, depending to the debt you owe such as $500 by the end of the day or probably by tomorrow. If you have difficulties to find enough money to make payment, keep negotiate with them until they agree an amount you are comfortable with. Once you have promised to pay this payment, make sure you pay it, else they will call you again and again and they may visit you if you don’t pay it.
It is not over once you pay the small amount agreed in the phone call conversion with the debt collector because your debt is not paid off yet. You will need a debt solution to work your way out of debt, else soon or later, debt collectors will call you again. If you have run out of ideas on how to handle the overwhelming debt, the best way is to get help. There are so-called consumer credit-counseling services that you can approach to seek helps. Let them know your financial and debt situation so that they can help you with a debt management proposal that works to get you out of debt.
The bottom line is, don’t panic and ignore the debt collectors’ phone calls; instead deals with them and negotiate a temporary solution so that you can buy some time to find help. There is always various help available that you can approach. As long as you handle your debt, there is always a debt solution that fits into your financial situation.