What should you not say to a debt collector?

Asked by: Naomie Gottlieb  |  Last update: December 16, 2022
Score: 4.2/5 (65 votes)

9 Things You Should (And Shouldn't) Say to a Debt Collector
  • Do — Ask to see the collector's credentials. ...
  • Don't — Volunteer information. ...
  • Do — Make a preemptive offer. ...
  • Don't — Make your bank account accessible. ...
  • Maybe — Ask for a payment-for-deletion deal. ...
  • Do — Explain your predicament. ...
  • Don't — Provide ammunition.

How do you outsmart a debt collector?

9 Ways to Outsmart Debt Collectors
  1. Don't Get Emotional. ...
  2. Make Sure the Debt Is Really Yours. ...
  3. Ask for Proof. ...
  4. Resist the Scare Tactics. ...
  5. Be Wary of Fees. ...
  6. Negotiate. ...
  7. Call In Backup. ...
  8. Know the Time Limits.

What should you not say when calling a debt collector?

Don't Give Information About Your Income, Debts, or Other Bills. Debt collectors can get some of this information from your credit report and may even use it to get you to make immediate payment. For example, they may say “I see that you're current on all your credit card payments.

What do you say when talking to a debt collector?

Don't tell sob stories, and definitely don't make promises like, “I'll pay,” which could be interpreted as a contract in some cases. As for specifics, here's what to ask: Get the name of the firm, the creditor and the amount. Ask for a breakdown, if possible.

How can I get out of debt collectors without paying?

There are 3 ways to remove collections without paying: 1) Write and mail a Goodwill letter asking for forgiveness, 2) study the FCRA and FDCPA and craft dispute letters to challenge the collection, and 3) Have a collections removal expert delete it for you.

What to Say, and Not Say, to a Debt Collector

29 related questions found

What is the 11 word phrase to stop debt collectors?

The first step to stopping debt collectors from calling you is telling them the 11-word phrase - “Please cease and desist all calls and contact with me, immediately.”

What is a goodwill deletion?

The goodwill deletion request letter is based on the age-old principle that everyone makes mistakes. It is, simply put, the practice of admitting a mistake to a lender and asking them not to penalize you for it. Obviously, this usually works only with one-time, low-level items like 30-day late payments.

Can you ignore debt collectors?

Ignoring or avoiding the debt collector may cause the debt collector to use other methods to try to collect the debt, including a lawsuit against you. If you are unable to come to an agreement with a debt collector, you may want to contact an attorney who can provide you with legal advice about your situation.

Should I respond to debt collector?

If you receive a notice from a debt collector, it's important to respond as soon as possible—even if you do not owe the debt—because otherwise the collector may continue trying to collect the debt, report negative information to credit reporting companies, and even sue you.

What percentage should I offer to settle debt?

When you're negotiating with a creditor, try to settle your debt for 50% or less, which is a realistic goal based on creditors' history with debt settlement. If you owe $3,000, shoot for a settlement of up to $1,500.

How can I pay a debt collector safely?

Once you and the debt collector have reached a written agreement for paying off the debt, you'll make your payment. The most secure way to make a payment to a debt collection agency is by sending a check through the mail with a return receipt. This will prove that the check was accepted by the collection agency.

Can I pay original creditor instead of collection agency?

Working with the original creditor, rather than dealing with debt collectors, can be beneficial. Often, the original creditor will offer a more reasonable payment option, reduce the balance on your original loan or even stop interest from accruing on the loan balance altogether.

What happens after 7 years of not paying debt?

Unpaid credit card debt will drop off an individual's credit report after 7 years, meaning late payments associated with the unpaid debt will no longer affect the person's credit score.

Can debt collectors actually do anything?

While debt collectors can't threaten you or mislead you, they can apply pressure to collect payment. This pressure can include daily calls, frequent letters, or talk about pursuing a lawsuit for payment on the debt — as long as they stay within the bounds of the law.

How long can you be chased for a debt?

For most debts, the time limit is 6 years since you last wrote to them or made a payment. The time limit is longer for mortgage debts. If your home is repossessed and you still owe money on your mortgage, the time limit is 6 years for the interest on the mortgage and 12 years on the main amount.

Can you go to jail for credit card debt?

The short answer to this question is No. The Bill of Rights (Art. III, Sec. 20 ) of the 1987 Charter expressly states that "No person shall be imprisoned for debt..." This is true for credit card debts as well as other personal debts.

Why you should not pay collections?

Making a payment on the debt will likely reset the statute of limitations — which is disastrous. If the collection agency can't show ownership of the debt. Frequently, the sale of a debt from a creditor to a collector is sloppy. A collection agency hounding you may not be able to show they actually own your debt.

What is a 609 letter?

A 609 dispute letter is a letter sent to the bureaus requesting this information is actually not a dispute but is simply a way of requesting that the credit bureaus provide you with certain documentation that substantiates the authenticity of the bureaus' reporting.

Do goodwill letters work?

While it's not guaranteed to work, writing a goodwill letter to your creditors could result in negative marks being removed from your credit reports.

Does disputing a collection reset the clock?

Disputing the debt doesn't restart the clock unless you admit that the debt is yours. You can get a validation letter in an effort to dispute the debt to prove that the debt is either not yours or is time-barred.

What happens if you hang up on a debt collector?

If you continue to ignore communicating with the debt collector, they will likely file a collections lawsuit against you in court. If you are served with a lawsuit and ignore this court filing, the debt collection company will then be able to get a default judgment against you.

Can you have a 700 credit score with collections?

Yes, it is possible to have a credit score of at least 700 with a collections remark on your credit report, however it is not a common situation. It depends on several contributing factors such as: differences in the scoring models being used.

What is a drop dead letter?

A “drop dead” letter is written notification from you to any collection agencies that are harassing you. It informs the agencies that you're aware of your rights under FDCPA and that you're requesting they stop contacting you about a given debt — effective immediately!

How long before a debt is uncollectible?

In California, the statute of limitations for consumer debt is four years. This means a creditor can't prevail in court after four years have passed, making the debt essentially uncollectable.

Does unpaid debt get written off?

Can Old Debts be Written Off? Well, yes and no. After a period of six years after you miss a payment, the default is removed from your credit file and no longer acts negatively against you.