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How to be a Debt Collector Whisperer

Posted on in Bankruptcy

Americans have lots of debt. Not all debt is bad, but if you land in a tough financial situation, debt can feel like an invisible weight around your neck. Enter the debt collector. This post discusses how to understand and communicate with debt collectors:

Make a decision – Decide to be in control. You do not have to take the first offer they extend. You must carefully review your options and make the best decision about your debt. Depending on your financial circumstances, it may be in your best interest to pursue bankruptcy. Take the time to understand what bankruptcy can and cannot do for your financial future. Consider discussing your situation with a Cook County bankruptcy lawyer.

Understand their purpose – Debt collectors are not evil people with sinister plots. They have a job to do and earn a commission what they collect. As a result, they may try to appeal to your emotions. Do your best to remain calm. Emotional decisions are not always the best ones.

Know your rights – They must govern themselves by the Fair Debt Collection Practices Act and must therefore refrain from using abusive language or engaging in activities that are considered harassment. Take detailed notes of your interactions with any debt collector. Inform them about unacceptable behavior.

Choose your words wisely – Everything you say, or at least relevant portions may be kept in your file and referred to at a later date. The debt collection representative may even record the conversation. Be clear on your intentions, but do not make promises you cannot keep. Set a standard for communication.

The most important thing to remember is that it is your debt and you must make a decision on how it will be handled. The consequences of those decisions vary, depending on the type and extent of debt and delinquency. If you decide that bankruptcy is the best option, contact a trustworthy bankruptcy attorney in Crystal Lake today.

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