What to do if you have collectors calling
The phone rings and your anxiety rises….you peek….an 800 number….oh no! Your stomach sinks as you know this is the collectors calling again …. And you have no ability to pay it.
Sometimes, life happens and we find ourselves in a place where we are unable to pay our debts as they become due. If you receive a phone call from a debt collector, here are 5 things you should know as you work to handle your debt and collections calls:
Number 1 –Remember the Person on the Other side is just doing their job
It’s easy to get upset with this person calling you because they are calling you for money, and if you had the money you would have paid it. This person has a job to do, and if they don’t do their job they will not be able to pay their bills…it can become a vicious circle. Ensuring you remember this context can be helpful as you work to negotiate with them.
Number 2 – Keep Your Cool
The debt collector has been trained to elicit an emotional reaction in you because this will assist them in their goal of collection. It is important that you remain neutral as they share their information. The debt collector will be stating facts, and these facts may be unflattering, but you have to ask yourself, “Are they true?”
Number 3 – You have the Right to Decide When to Speak with Them
You have the right to tell the debt collector that you can’t speak at work, and then set up a time to connect with them at a later time. Keep your promise to be available. If you make a commitment to do something, do everything in your power to keep it, and if you realize that you can’t keep it as planned, reach out right away to let them know BEFORE the time passes and you are late.
Number 4 – Don’t Make A Promise You Can’t Keep
In sales (and relationships) the golden rule is “Under Promise and Over Deliver.” Don’t agree to something that you don’t plan on being able to keep; or to put it another way, before you agree to something make a plan on how you can achieve the commitment. You have to realistically look at your budget and your ability to pay the debt collector. If it doesn’t seem likely you will be able to do this, don’t say that you will and then “hope” that things work out. Hope has nothing to do with math.
Number 5 – Speak to a Debt Relief Specialist at Bromwich + Smith
IF the collector is calling it means you have been having trouble paying your bills. If you can’t find a mutual agreement with the above steps and want to stop debt collectors calling you it is time to speak with an expert at Bromwich + Smith. We can help you work with all your creditors formulate a plan through a formalized legal restructuring called a proposal.
Interested to learn more! Check out this news segment with our VP as she chats about these 5 considerations when you are dealing with debt collectors. To learn more click here.
Bromwich+Smith’s Debt Relief Specialists are available for initial free, no-obligation, confidential consultation by phone at 1-855-884-9243 or request a call back at contact us page.