How can I Stop Collections from Calling Me?

How can I Stop Collections from Calling Me

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By Bromwich+Smith Staff | 812 words | Reading Time: 4 minutes and 3 seconds| Date: 2023/01/20

If you have ever been behind in bill payments, you understand the fear of an unknown caller on your phone. They call throughout the day, every day and it doesn’t end. If you have a landline, or work phone on file they are calling those numbers as well and if you do not have the means to pay them you are likely ignoring every phone call. Lets look at some ways to put an end to these calls, and get your finances back on track.
 

Answer The Phone.

Lets take the power away from your creditor and back with you. A secret you may not know if your creditors want to keep you as a client. You may think that they don’t want you as a client because you owe them money but the truth is you are making them money and it is easier to keep a current client- even one in debt- than it is to attract a new client. So pick up the phone and talk to them. They may be more willing to work with you than you expect. Be honest, and let them know what is going on. By explaining that you lost your job, had a major injury, or separated from your spouse will help them understand your situation.

You can ask if there is anything they can do to reduce interest rates, or late fees. Offer a payment plan that you can stick to- and call them back if something changes! You can request that they stop contacting you by phone and request they only contact you by mail. This is a legally binding cease and desist letter, and if they do not end the phone calls you can contact a lawyer.

It is important to remember that ignoring debt collectors or not paying your debts can have serious consequences, such as damage to your credit score and legal action against you. This can result in garnishing of wages, seizure of property, or money taken from your bank accounts. They may call your employer, family, or any other number you have provided during the process. Your credit score may also be affected, making obtaining credit in the future more difficult. It is generally in your best interest to try to resolve any debts you owe as soon as possible.

How Often Can They Call?

While there is no set amount of times they can call you throughout the day, there is a standardized time where they can call you. Creditors are only able to contact you between 7:00 a.m. and 9:00 p.m., Monday through Saturday. Sundays, between 1:00 p.m. and 5:00 p.m. If you have creditors calling outside of thee hours, or you you feel that you are being excessively harassed by collection agencies, you can file a complaint with the Financial Consumer Agency of Canada. 

How Long Can They Keep Calling?

Typically, a creditor can call you for six years from the date of the last payment in efforts to collect the debt. There are some situations however, in which there is no limitation on how long they can call. This list includes:

  1. Secured debts like mortgages, vehicle loans, loans for travel trailers etc. Simply put, any loan for something that can be held for collateral.  
  2. Unsecured debt where the creditor has a judgement against the client. While there is often a limited timeframe, these judgments are often renewed. This includes when the creditor has filed a lawsuit before the limitation has expired.
  3. Any form of spousal or child support which includes current or past due payments. If left unpaid, this continues as owing even after a child has turned 18.  
  4. Debt that has been a result of fraud, or embezzlement.
  5. Fines that are from court like traffic violations.
  6. Any debt that you owe the government, such as CRA debts (taxes, overpayments, other). These types of payments are never forgiven until paid in full.  

What Can I Do If I Still Can’t Pay?

If you are unable to pay your debts a consumer proposal  or bankruptcy may be the best option for you. They are both debt relief options, that are legal processes to help you get relief from your debts and give you a fresh financial start. However, it is important to understand the pros and cons to each option, to understand the entire process. Bankruptcy for most people is considered as a last resort.

These powerful debt relief options through a Licensed Insolvency Trustee, will Stop your Creditors. All legal actions must immediately halt, including wage garnishees, collection calls, and legal proceedings.

If you find yourself struggling with creditor calls, it is important to evaluate your ability to pay your debt. If you are unsure if you can pay off your debt, call a Licensed Insolvency Trustee for a non obligation consultation and learn about your options.

No matter what your financial story is, Bromwich+Smith has a number of debt relief strategies to help you regain control of your finances and get your life back on track. Reach out today for a free, confidential, no obligation consultation. Bromwich+Smith’s Debt Relief Specialists are available by phone at 1-855-884-9243, or request a call back at contact us page. We want to see you flourish!

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