The more you ignore them, the more they come after you. Sometimes, ignoring debt collectors feels like the only option to take when life is moving at 200 miles per hour. You probably would be willing to pay the debt, but you have no money. Bad financial decisions (or not?) that you made a long time ago, come back to haunt you and nothing can make them disappear, unless you take action.
Unfortunately, irritating collection calls are there to stay unless you move against them. Like they say, you can run but you can’t hide. Debt collectors always have a way of finding you. After all, that is their job. But it is your job to make the noise stop. Ignoring debt collectors can be very exhausting and frustrating.
The Aggression of Debt Collectors
One thing to always remember is this; they don’t play fair. As much as you want to give in to the urge of just completely ignoring debt collectors, don’t. There are alternatives that can be utilized to keep these debt collectors at bay and out of your way.
Ignoring debt collectors is tempting, but it is not a long term solution.
Types of Debt Collectors
Let us identify the different kind of debt collectors that are there. It would be beneficial if you knew each type there is so that you are able to fight them off effectively.
Third party Collectors
These types of collectors are usually hired by creditors who want their money and are usually very persistent. The creditor, after attempts to get his money from you, transfers the account to a collection agency so that they can demand the money on his behalf.
Debt collectors that buy Debt
They are the most annoying, adamantly aggressive debt collectors out of the whole bunch. That is because they have much to lose if they do not collect the debt that they bought from the initial creditor at a very low price. These debts usually have exceeded the statue of limitations so it is vital that they get you to admit to the debt, so that they can reopen the account and chase you after the money. Ignoring debt collectors such as these can absolutely be understood!
Credit Card Companies collectors
They are probably the only debt collectors that have at least an ounce of courtesy in them. When your account is flagged as owing debt, they are the first ones to call you and offer a payment plan or a lowered fixed sum of money.
So what alternatives are there instead of ignoring Debt collectors?
For starters, know your Credit History
Before doing anything, ask for a Credit report. You do not know what your credit is like unless you go through your credit history. It is a sure way of knowing what you owe. As soon as you get it, check for:-
The statue of Limitations
If you discover that you owe the debt, check to see if it has gone over the statue of Limitations and if they are coming for you unjustly. It is no longer your concern if the time has expired. You will have a solid case and make that as your argument when the debt buyer comes after you in the form of a lawsuit.
Validity of the debt
Is the debt yours? Did you actually incur the debt? If the debt is not yours, and it came about in the form of identity theft, (someone else stole your identity and made the charges) then that could give you reason enough to make a complaint against the debt collector.
Don’t acknowledge the debt
When ignoring debt collectors, remember that the debt is not going to automatically go away. So, at some point, you will have to talk to them over the phone. When this happens, keep your conversation vague and dismiss the allegations until you know for sure that you owe the debt. Trickery is the debt collector’s expertise, so beware of the tactics they might use to get you to say things you don’t want to say. Furthermore, they record conversations with the hope for slip ups on your end.
Exercise your right from the Fair Trade Commission (FTC)
The FDCPA law gives you the right to demand a verification of the debt. You have a right to get a copy of the particulars of the debt and see if it truly matches your own findings and records. It is also a way of showing cooperation without admittance, instead of just ignoring the debt collectors.
You don’t have to succumb to torturous practices of the debt collector, but you can overcome them by being smart. Remember, FDCPA is definitely a law you should get familiar with when debt collectors show up in your life. Know your rights.