How to Deal with Debt Collection Agencies

Debt collection agencies can be annoying. Can you do anything about it? Read on to find out. A debt collection agency is a company that collects debts for creditors. They pressure you to pay the debt through letters, phone calls, and even lawsuits. The two major types of debt collectors include internal collection departments and third-party debt collectors. When your debt is 90 to 180 days due, you will most likely deal with internal collection departments-your original creditor. At this point, you can negotiate and come to an agreement.

Once the 90–180 days are over, your creditor might sell your debt to a collection agency or contract them. The debt collectors can be ruthless and if you decide to negotiate with them, do it in writing. There are things that collection agencies are allowed or not allowed to do by the law. The FDCPA protects you from deceptive tactics and abuse from these agencies, even if you owe the debt.

The collection agency can only talk to you, maybe your spouse, and your attorney about your debt. They can try to contact friends and family to get your contact information. They are not, however, allowed to harass them with phone calls. Can they withhold information regarding a debt? They cannot do that legally.

They are supposed to write to you within 5 days since they first contacted you, notifying…