CC debt collectors

I think you should contact them and ask for which debt they had called you for. Then send a debt validation letter to them with a request of return receipt.

They called in July...it already has been months without them contacting me again...what could possibly be the problem...the debt is not over 1,000 so is it possible they did not want the trouble and got rid of the case?

Keep on dreaming in this economy no one forgets about money. Better start playing some hard ball my friend. Here are a few tips:

Getting Back to Basics Part 2
Part two of Getting Back to Basics picks up on how we deal with collection agencies and collection lawyers. We deal with collection agencies and collection lawyers different than we do we original creditors. These people are hard to deal with and they are aggressive, remember these people are making percentages on what they collect. If your account or accounts is being collected on by someone other than the original creditor it is good to read through The Fair Debt Collection Practices act.

When we understand our rights we are more relaxed and bill collectors cannot bother us. Getting educated on the collection topics will help to gain excellent settlements with collection agencies. Here is how you must negotiate your unsecured credit card debt with bill collectors or collection agencies and collection lawyers as they call themselves, follow these guidelines to save on time, money and aggravation.

1.NEVER talk to a collection agency on the phone.

2.Get your terms in writing before you even open your checkbook. Never expect a collector to meet an agreement that was made verbally. Everything must be in writing.

3.Keep good records. This can be the difference between a good and bad settlement. Don't expect them to remember you or what you agreed upon.

4.Send all correspondence via registered mail, receipt requested.

5.Keep a copy of every letter you send.

6.Follow up all phone correspondence with a letter (registered, of course).

7.Penalties and extra interest are typically fictitious amounts of money added on by the collection agency to pad their profits. We've seen as much as to 50% of the debt or more claimed to be owed by a collection agency consisting of interest and fees. Most companies would be thrilled to get you to pay the original debt even without the extra penalties they add on and will usually be more than agreeable in waiving these fees.

9.Never look too eager to settle. Take plenty of time to reach an agreement. Never let it slip that you need to settle the debt because you're buying a home, car or anything else. Don't accept the first, or even second, settlement offer. Make sure that they are the ones calling you to push the deal forward. You cannot expect to reach an affordable settlement if the collector thinks he has the upper hand.

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Getting Back to Basics

If anyone wants to negotiate settlements on their unsecured debt here is what has to be done when accounts are still with the original creditors:

1. Talk To Your Creditors- Believe it or not talking to your creditors will get you better settlement deals. If there is no money to settle with talk to them as if there is, this tactic will give anyone confidence and it will set the collector back on their heels. If you talk to the collector from a standpoint where you feel comfortable and secure they will have to negotiate with you. Always sound confident and over the telephone, never tremble. Always offer these collectors up to 25% of your total debt and every time they call back stick to your guns.

2. Settle with original creditors to avoid stress. Original creditors will call once or twice a day, if account goes to a collection agency, trust me they will call more times and use harsher language. Once an account goes delinquent, usually there is about a 150-170 day window to settle, with most creditors the best time to settle is about 150 days after the account goes unpaid. Most if not all creditors offer tremendous savings at this time, I will not mention any names, I'm not about to give the card companies any free advertisement.

3. Always get your settlement offer in writing. Have them fax or mail a copy of the terms agreed upon, this is the only real piece of evidence that a settlement was actually in place. Original creditors are good about sending out settlement letters the, where one has to be really careful is with collection agencies. Never send a creditor or collector any money with out a letter on hand. If the letter is not clear have a lawyer or an accountant read it before making payment, make sure all of the information on the letter is accurate before making payment.

3. Have creditor remove bad credit mark. Have them include on the letter a statement saying the credit mark will be removed once all money agree upon as a settlement is payed. Some creditors do this not all.

4. Try having the creditor write on the letter payed in full, not payed as agreed as this will help your credit score improve faster. Only very few creditors do this.

If someone follows these basic four points and remains calm and sticks to their settlement offers, most accounts will be settled for 50% or less with out having to spend thousands of dollars t join a debt settlement program. In my next post I will explain how to deal with collection agencies and lawyers.