Auther Created By:
Stacy B Miller On 4th Apr,16
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Just think you’re spending a cozy evening with your friends and suddenly your phone rings. Oh! It’s that debt collector again.

A single call from a debt collector is enough to ruin your day. While it’s natural to be upset and afraid, there are a few approaches that may help you go through the process without enduring too much pain. When I’m talking about approach, it means the way you should talk to a debt collector when he rings you.

Here are a few examples of what you should say or shouldn’t say when a debt collector rings you:

Should say

“Who am I speaking to? Are you my creditor or a debt collector?”
“Who is calling please? Can you please tell the name of the company you’re working for? Are you calling me on behalf of the creditor?”
“I’m turning on my tape recorder. Do you have any problem with it?”
“Why don’t you send me a debt validation letter first? I don’t think this debt is mine”.
“Well, I could have paid you but have a wedding next week. I need the money for it”.
“Do I owe you any money? How much? When did this debt begin?”
“Okay. Let me verify the information. I’ll get back to you”.
“I can pay up to this. It’s not possible for me to pay the entire amount”.
“Send me a settlement agreement letter before I proceed to make a payment”.
“I don’t recall this debt. It would be better if you call the creditor first”.
“Hello! I can’t hear you. What are you saying? Hello! Hello! Hello!”. Get off the line.
“This debt is not mine. I’m withdrawing permission for you to call me henceforth. Please send me your address so I can send a Cease and Desist letter to you”.

Shouldn’t say

“My bank account number is ###########”.
“My Social Security Number is #########”.
“The net value of my property is #########”.
“I earn @&*%$& amount weekly”.
“I pay $@#$% amount for my car every month”.
“My other sources of income are………….”.
“My spouse is working and earns $@#$%.
“You’re absolutely correct. This is my debt. I will pay you the money as early as possible.”
“Don’t call me. You ***********.
“Well, Mr.XYZ is not at home. I’m his girlfriend.
“I have taken out multiple loans from XYZ bank, and I owe $@#%&”.

Golden rules while talking with debt collectors over phone

  • Never get too emotional when you’re talking to a debt collector
  • Never lose your temper when speaking with a debt collector
  • Stay focused when you’re talking to a debt collector
  • Don’t answer all the questions a debt collector asks you
  • Take a little time and think if the SOL period has already crossed.

Never panic if you genuinely owe a debt. There are various of debt repayment options to help you. What you need to do is look at those options and find out which one is suitable for your wallet. If you’re still confused, then you can call us at our Toll-Free Number - 800-530-OVLG. Our financial coach will help you choose the best option and deal with debt collection calls as well.

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Last Updated on: Mon, 4 Apr 2016

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