Debt

Dealing with Debt Collectors

First and foremost, if you borrow money you should pay it back. At some point in time most of us will fall into trying times which can make paying bills difficult but everyone deserves to be treated fairly and with dignity.

Ask for verification of the debt. By law, the agency must verify the debt within five days after it initially contacts you. If they don’t, then they can no longer attempt to collect on that debt or report it to the credit report agencies. If they do verify the debt, you can either provide them with evidence that disputes their claim or negotiate to pay the debt. If the debt is being collected by someone other than the original company, you will also want to verify that the company contacting you has the right to collect on it, even if you know you owe the original debt. › Continue reading

Thursday, January 7th, 2010 Debt 1 Comment