3 Things to Never Say to a Debt Collector

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Originally Posted On: 3 Things to Never Say to a Debt Collector | SimpleMoneyLyfe

Debt Collectors – love them or hate them, they have a job to do. However, there are a few things you can do to protect your consumer rights and keep the harassment to a minimum.

If you get an unexpected call from a debt collector, here are three things you should never tell them!

Yes – you read that right. If a debt collector calls you, the last thing you want to do is admit to them that the debt is yours, even if it is.

Debt collectors should not be calling your personal phone. While they can at first, if you request everything in writing and demand them to stop calling your phone, they have to oblige. This is protected under the Fair Debt Collection Practices Act (FDCPA).

Also, the debt may not belong to you, and it may be a mistake. Like humans, debt collectors are prone to make mistakes. All it takes is for them to have the wrong account information.

This goes without saying, never give a debt collector your personal information. When a debt collector calls you, the first thing they will ask is for you to confirm your identity and account information.

Do not give them any information they can leverage to spam you more with demands, threats, and unwanted requests. At a minimum, do not provide them:

• Email Addresses
• Current Employer
• Social Security Number
• Current Mailing Address

The less information a debt collector has, the better. This gives you more control over the situation. But remember, there is no need to be rude or arrogant to the debt collector. After all, they are just trying to do their job.

Be upfront with the debt collector. Tell them you will communicate with them through the mail. This is your right, and debt collectors know that. While this is a slower process, it puts an end to the annoying phone calls.

Like your personal information, do not give a debt collector your bank account information. Debt collectors will try to get you to make payment when they call you.

To many, this seems like a quick solution to their problems, but it is not. In fact, this puts you in a more difficult position. Here is why:

• Debt Statute of Limitations Resets: When you make a payment on a debt, it resets the debt’s statute of limitations. This means a debt collector can sue you (though this is unlikely unless you owe them thousands).
• Potential Scam: In our day and age, where digital transactions rule the world, financial scams are becoming more apparent. Do your due diligence—research who the debt collectors and what they do.

While there are numerous reasons not to provide a debt collector your financial information, the main reason is to protect yourself.

If you are eager to make payment and put this whole situation behind you, then the best thing you can do is to get everything in writing.

Pay off the debt with a check. Avoid making payment online, again, this is just because I do not like giving away my financial information. Politely ask the debt collector to remove the collection account from your credit report. See if they can do this with all three credit bureaus as well.

Whenever you deal with a debt collector, you need to know your rights. Think of the Fair Debt Collections Practices Act (FDCPA) as your best friend. It can and will save you from aggressive tactics debt collectors employ daily. For example:

• How to Communicate: As a consumer, you can tell a debt collector directly how you want to be contacted. Whether it is by phone or mail, the decision is yours. Furthermore, debt collectors cannot threaten you with violence or use obscene language. They have to act responsibly.
• Challenge the Debt: Under the FDCPA, consumers can challenge the debt. However, this is time-sensitive. You only have 30-days after initial contact.
• Can’t Mislead You: Debt collectors cannot mislead you. They cannot lie about how much money you owe or who they are. They have to tell you they are a debt collector.
• File a Complaint: If you feel as if you are mistreated by a debt collector, it is your right to file a complaint with the Consumer Financial Protection Bureau (CFPB). You can file a complaint here.

While these are just a few ways you can leverage your consumer rights to your advantage, there are more. Read the FDCPA to better understand what you can and cannot do.

Dealing with debt collectors is never an enjoyable experience. Leverage your consumer rights when needed, and do not give away your personal or financial information.