In the first three articles in this series I defined the term collections account, wrote about how sending delinquent 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 let you know that most bill collectors know that it is crucial to collect on your accounts as soon as possible. A number will ask you why you can’t pay today, and a few might attempt 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.
Try to remember that you aren’t talking about a mortgage payment; the debt collector can not take your house away if you can not 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 companies. Unique version for reprint here: Tactics A Debt Collector Uses And What To Do After You Have Paid: Debt Collection Basics Part Four.
Related posts:
- Legal And Illegal Tactics A Debt Collector Will Use To Collect: Debt Collection Basics Part Three
- Collection Agency Basics Part Five: Getting Proof Of Payment And Avoiding Future Phone Calls
- What Is A Collections Account? Collection Agency Basics Part One
- If I Am In Debt, Who Can A Debt Collector Contact About It?
- Collection Agency Basics Part Six: Advice For Debtors
- When Consumers Don’t Pay: Tactics For Collection
- I Have A Collection Agent On The Phone! What Now?
- What Is Commercial Debt Collection?
- Some Fun Tactics To Use To Encourage A Collection Agency To Stop Calling You
- How to Collect a Debt Making use of an International Debt Collection Agency
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