Last month, I gave some basics on what to do if debt collectors call. This month I give several more tips in addressing debts.
- Don’t ignore collection agencies. It’s very easy to avoid phone calls or letters about delinquent bills. Repaying debt is hard especially if you do not have the money. But, it’s best to obtain information on the debt.
- After verifying the debt, you should see if there’s a possibility about negotiating a settlement or payment plan. If you do not feel comfortable about doing this, you may contact an attorney that can advocate on your behalf.
- If you are served with a lawsuit to collect the debt, you should contact an attorney immediately for them to review the lawsuit. If you do not answer the lawsuit, you may have a judgment entered against you. This may allow a collection agency to garner wages, bank accounts and even show up at your home and take property to satisfy the judgment.
- If you do communicate with a collection agency, make sure that you put everything in writing. Any agreements with collection agencies should be in writing before sending any money.
If you have any other questions about the debt collection process, please do not hesitate to contact me at (206) 684-9462.