Important Questions to Ask When In Contact With A Collection Agent

Dealing with a collection agent is quite a stressful experience especially with the possibility of facing a credit card lawsuit. For others, ignoring the problem might seem like the best thing to do but if you want to rid yourself of a problem, you’re going to have to find to a resolution. If you came across a collection agent trying to get you to pay an alleged debt, it is important to ask yourself these important questions:

“Is he calling the right person?”

Many debt collectors contact the wrong person because they get very little information from the original creditor when they purchased charged off accounts for pennies on the dollar. Therefore, if you have a similar name as that of a debtor, they just might mistake you for the other person and call you. If such is the case, make sure you let the debt collector know and take note of the time and date he or she called you. If the calls persist, you can take legal action against the debt collector.

”Do I own the debt?”

If you own the debt, it is important to check if the debt is out of statute. If that’s the case, the collector can no longer pursue you since the account is old. On the other hand, if you are unsure whether or not the debt is yours, you can send a debt validation notice to get more information pertaining to the details of the debt account.

“What should I do to repay the debt?”

If the debt is indeed yours, you need to know what you can do to take care of the problem. Don’t just ignore the debt collector that may result in a credit card lawsuit, rather, talk to them and negotiate a settlement and just keep the agreement in writing. That said, it is important to not divulge any personal information, including your bank details and personal contact information. If you do not have the money to pay the debt, let the other party know. If the debt collector files a credit card lawsuit, you can defend yourself in court and quite possibly even win the case, as long as you do not ignore the summons for the credit card lawsuit.

“Should I hire an attorney?”

If you are facing credit card lawsuit, you can either hire an attorney or defend yourself in court. For many debtors, a great document with info about how to fight credit card lawsuit is enough to win the case. However, if you got the budget, go ahead and hire a lawyer. Also, if you feel that a debt collector has violated your rights, you can also pursue them legally and even pocket a fine for it.