How to Deal with Debt Collectors

Having a debt fall into collections can be upsetting; especially if you’re not sure you can afford to pay what you owe. The good news is you’re not alone.

According to a study conducted by the Urban Institute in 2014, 77 million Americans—35 percent of adults with credit files—have debt in collections. For such a common problem, there has to be a better way to deal with it. Ignoring the debt won’t make it go away, but you can learn more about the debt collections industry and the regulations that govern it to decide how to effectively deal with debt collectors.

How to Deal with Convergent Outsourcing

At Convergent Outsourcing, our goal is to make paying off your debt easy and to be helpful throughout the process. We understand that it can be a confusing and frustrating process, and so we provide options over the phone, via mail and online so that you may contact us in a variety of ways.

We want to know your communication preferences and keep your information up-to-date so we can ensure we’re contacting you in the most convenient way possible. Please use our quick online form or give us a call today at 800-444-8485 to let us know how best to contact you.

We also provide online FAQs about our company to help consumers get answers to common questions about our company, like what to do if the amount in your collections letter seems incorrect or how to resolve your debt online. Browse our FAQs and contact us with any questions not answered there.

5 Tips for Dealing with Collection Agencies

• Know the law. Collection agencies have to follow certain practices as a part of the Fair Debt Collection Practices Act (FDCPA). Knowing your rights will give you the power to stop debt collector harassment and ensure that you are being treated fairly under the law, it can also help you identify a scam from a legitimate debt collection agency. However, it can also help you understand that collection agencies can only release so much information to you by law and that they are required to verify your identity before releasing any sensitive information.
• Check the facts. If you do not recognize the debt in question or just want to confirm the amount owe, you have the right to ask for written verification. Upon request, the debt collector is required to send you information about the debt they are trying to collect.
• Ignoring debt collection calls or letters may make it worse. If you choose to ignore phone calls and notices, the collector may resort to other means to get in contact with you. In some cases, debt collectors can call you at work or garnish your wages, and in extreme cases, they can even initiate legal action. If you owe a debt, you may have more options to help resolve that debt than you know if you speak with the debt collector.
• Work together to devise a plan. A debt collector’s primary goal is simply to recover a debt. In order to do that, many debt collection agencies may be willing to work out a reduced lump-sum payment or a payment plan. Talk with your collection agent to see what options may be available.
• Use your negotiating skills. If you can pay a reasonable portion of your debt in a single transaction, the collection agency may be willing to accept a reduced payment in the form of a debt payoff. That way, they receive valuable cash flow and you may get part of your debt forgiven in return. Click here to find out more about Debt Negotiation.

Learn More

Learn more from our other FAQ articles:

• How Do Collection Agencies Work?
• What Can Collection Agencies Do & Not Do?
• 3 Reasons Not to Sue Debt Collectors.
• Is it a Scam? Learn More About Debt Collection Scams.