Paying off debt in collections can be a challenge, but with the right approach and strategies, it is possible. Learn how to navigate the process.
What are debt collectors not allowed to do? What do I do if I can pay the money I owe? What do I do if I cannot afford to pay the money back? What should I do if a debt collector contacts me? It is important to know that you shouldn’t ignore debt collectors when they try to...
cellphone bill or just about anything you owe money on. When you haven’t showed signs of paying on the bill (normally after three months), the company will usually send your account to collections to try to get their money. Oftentimes, these companies will sell your debt to a collection ...
billing errors, or an expired statute of limitations. Not only should you avoid forking over money that you aren't legally obligated to pay, but paying that debt could
Debt collectors purchase old debts from creditors and earn all of their money by getting borrowers to pay up. Therefore, they are very persistent and often call you multiple times per week to try to get you to make payments on an old debt. If you are tired of hearing from them, invoke...
The best way to avoid losing money to fake debt collectors is to not engage with them and hang up right away. Here are eight warning signs that can indicate you’re dealing with a fake debt collector: 1. The collector or agency asks for sensitive information that they should already know...
reporting any debt. If you can pay a delinquent bill before that 31st day, you can likely avoid damage to your credit score and credit report. You have even more time with medical debt. When a collection agency has a medical debt, they have towait 180 daysbefore reporting it to credit ...
Avoid talking to debt collectors.If you’re forced to have a conversation with the debt collector, be careful about what you say; they will likely be making recordings and taking notes as well. Follow your lawyer’s advice.You hired your lawyer for a reason. Take their advice seriously and...
Re-aging debt is good for debt collectors because it gives them greater legal rights to collect a debt. However, re-aging debt is usually bad for borrowers because it puts them back on the hook for paying an old debt that might otherwise be uncollectable due to the statute of limitations...
2. Those who dispute the debt or want to avoid paying. Some disputes are absolutely legitimate. The bill may have been paid in full but improperly recorded, or we may have been provided with inaccurate information and are calling the wrong number or the wrong John Smith. To help resolve th...