What to Do (And NOT to Do) when a Debt Collector Calls?

Being contacted by a credit collector can be unnerving. The following advice will help you stay calm and avoid saying anything that could create more problems.

• DO NOT Engage in casual conversation with a Debt Collector. (You may give the debt collector information that could be used against you)
• DO NOT Answer any questions that you don't want to answer. (Never share personal or financial information)
• DO Contact a Credit Counseling Agency .
• DO Ask the debt collector to send you a written accounting of exactly how much you owe. (Ask them to itemize)
• DO Dispute if you don't agree to the amount you owe the debt collector says.
  
• DO Say that you don't have the money if you don't and tell the debt collector not to call you again.
• DO Try to work out an affordable payment plan that you could feel comfortable.
• DO Write down everything if a debt collector threatens you and is verbally abusive. (They are violating federal law with these kind of actions)
• DO NOT ever agree to pay more than you can afford!

Print this out and keep next to your phone so you can refer to it when a collection agency calls.

Use the following resources to Manage your Debt

• Have a list of all your debts
• Have all the debt related paperworks
• Find how much you can realistically afford to pay
  
• A list of what you want from each of your creditors
• A list of what you are willing to give up to get what you want
• Find a trusted credit counseling agency near you. (A right Credit Counseling Agency can be a godsend when you are overwhelmed with debt and it is FREE).