Annoying phone calls from creditors and unfair debt collection practices can be very stressful. They can increase your anxiety and wreck your inner peace. Fortunately, there are ways to stop creditor harassment, keep the creditors away, and take back your peace of mind.
The first thing you have to bear in mind is that these phone calls shouldn’t make you upset. The callers are trained by their companies to find your trigger points and use them to harass you until you reach your breaking point. This strategy is illegal, and the majority of this type of calls are scams. As a debtor, you know what you owe and who your creditors are. So taking control of the situation is the best way to deal with these annoying calls.
Taking control of the call starts with being kind to the caller, and don’t give in to your raging emotions. Don’t fight fire with fire by telling them that you’ll consult your lawyer or even deny that you are the person they are calling. Consulting a lawyer, though, is the best option to manage your debts and avoid bad credit.
Ask the caller if they have a payment plan. Learn to negotiate the terms. If the caller is your credit card company, most of the time they will accept any payment you can currently afford, even as little as $5.
All creditors have collection agents that will work with you. The easiest creditors to deal with are the school and government agencies. They often offer condonation programs, loan restructuring, forgiveness loans that will allow you to set up a payment plan as low as $5 per month. They can offer a loan forbearance program which will enable you to delay your payment due to hardship. Some creditors offer zero payments for years. They are willing to figure out how they can help you even if you call them just once. They only want to know if you have any intention to pay your debts even if you don’t have the funds as of the moment.
Be Cautious of These Illegal Practices by Creditors
- Calling your family, friends, and neighbors to talk about your debt. They are only allowed to call them to locate you, but not to divulge anything about your debt.
- They are only allowed to call you during business hours, not late at night or early in the morning.
- Repeatedly calling you in a day or per week,
- Deceiving you by not telling who the caller is.
- Threatening you with a wage garnishment, or holding off any financial benefits that you are receiving during hard times
- Using derogatory terms or insulting you during the call.
- Using intimidation or blackmail.
If any creditor is using these illegal practices to collect from you, call your lawyer immediately. If you live in the Oklahoma Area, call Marty Martin Bankruptcy Law (405) 255-2380 for assistance on how to stop creditor harassment.