Creditor Harassment: Three Ways to Deal with Harassing Phone Calls
If you are experiencing creditor harassment by debt collectors, remember: The reason that they are calling is to talk to you. Whether or not you should actually talk to them will depend on whether or not you have anything to say to them. Generally, you should only talk to debt collectors when doing so will help you resolve your issues or benefit you in some other way. That being said, here are three ways to deal with harassing phone calls.
- Restrict How Creditors Can Contact You
You can restrict how and when a debt collector can call you. Federal law prohibits debt collectors from calling you at inconvenient times or places. They are also prohibited from calling you at work, if you have informed them that your employer does not approve.
Keep in mind, however, that calling you may be the most convenient way for them to contact you. If you restrict their phone calls too much, they may resort to reporting you to a credit bureau or suing you to collect the debt.
- Negotiate With Creditors
Don’t be afraid to negotiate with a debt collector. You can ask them for anything and, in most cases, they have the authority to grant it. Perhaps you want to settle your account for 10 cents on the dollar – ask them. They may laugh at you, but that doesn't mean that they may not eventually go for it.
Whatever deal you do make, they will certainly want something in return. This might be an immediate payment, an agreement to pay by a certain date, or the like. You can agree to these things, but don’t overcommit yourself, since any deal will be negated if you can't fulfill your end of the bargain. Failing to “live up to your end” will almost certainly result in more phone calls.
If they do agree to any of your demands, be sure to get it in writing. If it’s not given in writing, it may not count, because you will have no way of proving what you discussed with the debt collector. In addition, some debt modification plans will only be valid if and when they are in writing.
- Don’t Talk to Creditors
Debt collection is targeted toward stressed and overwhelmed individuals. They already know that you don’t have money to pay your bills, and that others are trying to get what little you do have. Their job is to get you to pay them back first, rather than someone else. In essence, you are the rope in a game of tug-of-war between a number of debt collectors. For this reason, silence can be golden.
Again, the job of the debt collector is to get you to pay them, rather than another creditor. They do this by either harassing you so much that you will be willing to pay something just get rid of them, or by being so nice that you feel somehow compelled to pay whatever you can.
Both of these tactics involve keeping you on the phone, but neither is for your wellbeing. The more you tell them, the more disadvantaged you will be. If you tell them about your job or bank accounts, then their chances of getting money from you, if and when they sue, can improve. This, in turn, makes it more likely that they will sue. Unless you have your own reasons for talking to them, you shouldn’t.
When is it a good idea to talk to a debt collector? You might want to talk to a debt collector if you want or need something tangible in return. For example, it may be a good idea to talk about reducing interest rates, waiving late penalties, agreeing not to give information to the credit reporting agency, or performing other tasks that would benefit you or your financial circumstance.
It’s important to keep in mind, though, that debt collectors are keeping a record of everything you say – never tell them where you work or bank. And when you run out of reasons to talk to them, make sure that you actually stop talking to them. If you simply need a friendly voice to talk to about your financial trouble, look for someone else.
Contact Jodat Law Group, P.A. for More Information
It is impossible to list all of the prohibited types of threats or behaviors that a debt collector is responsible for. If it seems wrong, it is worth speaking to a lawyer who is familiar with the subject. If you have any questions, do not hesitate to call us at 877-912-2671 or contact us by email to discuss your case with an experienced creditor harassment lawyers or bankruptcy attorney. Locations in Sarasota, Bradenton, Venice, Clearwater, and Tampa.