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Debt Collection Basics Part Four: Tactics A Debt Collector Uses And What To Do After You Have Paid

In the first three parts of this series I wrote about collections accounts, described how sending unpaid accounts out to an agency helps out a creditor, and described the practice of selling an old debt to a third party collection agency. I spoke about the type of information that a collection company will obtain to utilize in their efforts, and the type of laws that third party collection agencies must follow. I described illegal and legal tactics that debt collection agencies use to collect.

I wrote that most collection agents realize that it is imperative to collect on your accounts as soon as possible. Many will ask you why you can not pay today, and some will try to manipulate your emotions or insinuate that you are fiscally irresponsible to upset you into agreeing on a payment.

Another strong arm tactic used in the industry is to upset a debtor by manipulating their emotions, and then transfer them to a company manager. By this time the consumer may be angry or frustrated and it will be more probable that they would agree to something easier just to get off the phone. If you find yourself in this situation, try to stay calm throughout the conversation.

Bear in mind that you are not speaking about a mortgage payment; the collection agent can’t take your house away if you can’t make the payments that they are specifically requesting. Don’t let the collection agency manipulate you into agreeing to something that you cannot afford at the moment or intimidate you into doing what you don’t want to do.

Try your best to stay firm and stick to the terms that both parties agreed on. After coming to an agreement about a payment plan, as with ANY financial deal, confirm your agreement in writing by sending a written plan by certified mail, return receipt requested to ensure delivery and proof that the agency received it.

Rapid Recovery Solution does commercial debt collections and writes articles on commercial collection agencies.

Posted by Mallory Megan on Aug 7th, 2010 and filed under Loans. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.