Getting frequent calls from debt collection agencies can be worrisome and intimidating. Even if your debt settlement plan is well chalked out, incessant calls can make you feel lost. However, most problems arise not because of the calls per se. The main problem is that people do not know how to deal with these types of communications.
So the next time a debt collection agency calls, you must ponder why is Midland Credit calling you? If the reasons are bona fide, you need not worry. However, if the calls border on harassment or intimidation, you must seek legal help.
What To Do When A Debt Collector Wants To Talk?
Talking to a debt collector without sufficient legal knowledge may be harmful for you. You have certain rights as a loanee and if you are not aware of them, get legal advice from your lawyer.
Some of the things that you should keep in mind the next time that you talk to a debt collector.
Choose If You Want To Communicate
If you have taken a loan for the very first time, you may not be adept at handling debt collectors. Always remember that people who make debt collection calls are experts at retrieving information.
Even when you answer a seemingly innocuous question, you may be giving out vital financial information that can be used against you. So if you do not feel confident, you may choose not to receive the call. If you choose not to receive calls from the collection agency, you must convey your wish to the collection agency.
So write a formal application to the loan granting agency that you would like to have all communication in writing.
When all communication happens in writing, you can discuss it with your legal advisors. On the other hand, phone-based communication puts you in a tight spot, and you may be tricked into divulging too much information.
Keep The Records
If you choose to communicate via written documents, you can have a record of all the communication that you have had with the collection agency. However, if you choose to communicate over the phone, you must keep a tab on all the information you give.
When you talk to someone from the debt collection agency, there are two things that you can do.
Firstly, you may record your entire telephonic conversation with the agents. In that case, you can revisit all the information you divulged to the agents. Moreover, you can also send the phone recordings to your legal advisors if required. However, there is a problem with recording telephone conversations.
The major problem with recordings is that you may not be able to present them as solid proof in a legal court. Many agents may claim the recordings to be doctored. So you can take the second option: make a tab of everything you say during the phone call. When you write down all the details related to a phone call, like the date of the call, the durations, the questions asked etc.; you can forward them to your attorney.
The obvious problem with writing down all the information is that you may miss out on some details. Also, what you write down can by no means be used as a piece of evidence against the collection agency.
Clear Out All The Misconceptions
If you receive a call from a collection agency about a loan you have not taken, clarify that at the very beginning. Collector agencies may often ascribe debts to you that you may not have taken. At times these mistakes may be a result of gross negligence or oversight. If you clarify it at the earliest, things will be easy for you and also the collection agency.
Do Not Try To Mislead
If you have been having trouble paying your regular installments, it may seem tempting to change your contact details to avoid calls. However, if you mislead the collection agency, then they may try getting your details by contacting your employers or acquaintances.
If you give them the wrong addresses or telephone numbers, they will have a valid reason to contact other people to know your whereabouts. So it is never a good idea to mislead the collection agency.
Do Not Be Aggressive
Many people make the grave mistake of being abusive when a debt collector calls. However, being abusive does not help. Instead, losing your temper may affect you negatively if the calls are being recorded. Also, when you get angry, you may blurt out some crucial details which were meant to be confidential. So before you pick up a call, make up your mind that you will not lose your cool in any circumstances whatsoever.
Talk To Your Legal Advisor
It is always a good idea to talk to your legal advisor when you start getting calls from a collection agency. A legal advisor will let you know about your rights. For instance, most people do not know that a collection agent cannot call you at odd hours.
Likewise, most people do not know that the agents cannot abuse or call you names when they call you. But if you have a chat with your legal advisor, you will know what is acceptable and what is not.
Moreover, in some countries, once you have a legal advisor, he is the one who should receive calls on your behalf. In such cases, a collection agency can contact you only if the legal advisor does not receive calls.
Handling incessant phone calls from a debt collection agency can be quite irritating. However, if you are well aware of all your rights and obligations, things can be handled in an appropriate manner.
Most people do not understand legal jargon or technical terms, so they might inadvertently agree to a debt-related condition. So it is always advisable to hire a legal advisor. When you have a legal advisor handling your case, he will take care of all the phone calls and every other communication you need to make with the collection agency.