Saturday, June 14, 2014

When the debt collector calls

At the time of writing this I am receiving a number of emails from people concerned after receiving calls from debt collectors who seem to have a vast amount of knowledge re a particular situation. Be very careful about verifying who you are. More often than not these callers do not know who you are and if you actually belong to a particular debt and they really do not seem to care. They use fear of the unknown to get people to act on the spur of the moment. These callers are very good at either making you believe they have all your personal details or in some cases they have really done their homework. It is amazing how much information some people still reveal on social media sites.

Current Debt

If you are struggling with debt and are falling behind in payments NOW is the time to act. Hiding will not make them go away and can in fact make things much worse. Here are my tips for dealing with the creditors and debt collectors when they call.

Stay calm and remain polite even though they may not be

Do not make any rash promises and if you need time to think just say so-tell them to call back later

Ask for a copy of the current statement to be emailed to you- be wary of giving out current address,employer details ect.

I never negotiate verbally with debt collector- if they become abusive or make threats simply state you are not prepared to be treated like that and are going to lodge a complaint with ASIC. 
One of my greatest mistakes was beleiving debt collectors wanted to assist- they are only interested in one thing a that is certainly not your well being.

Once you have been contacted by a debt collector it is time to act- delay no longer as you do not want a judgement or default against your name.

Ask if the debt has been sold or whether you are still dealing with the original creditor

Contact the credit provider immediately and try to sort out an arrangement

Contact a debt negotiation firm and ask for assistance. There are some really caring and professional groups out there who will assess your situation and offer alternatives- remember you are in charge and never accept something you are uncomfortable with. I have included a link below for a firm that if nothing else gave me some reassurance that ll was not lost.

Above all else stay positive- becoming upset and stressed will not help. You are not alone and there is plenty of good help available. I able able to give general assistance and guide you in the general direction of a professional who can assist with your specific circumstances. 

Fox Symes helps thousands of Australians every year- click the banner and fill out the quick online form. A caring professional debt advisor will call you back to discuss your options and advise on the best course of action. 

Fox Symes & Associates - Debt Consolidation Solutions

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