Knowing About Debt Collectors:
Great Advice, If You Can Get Past The Grammar

by Carolyn
(Park City, UT)

Response to news article at:
http://www.tmcnet.com/usubmit/-bad-credit-debt-consolidation-loans-know-debt-collectors-/2010/01/04/4555241.htm

I just read the "Bad Credit Debt Consolidation Loans" News story. I really wish I had had this advice years ago. Always get everything in WRITING. This should be number one on your bad debit list. Anytime you talk to a Debt Collector, ask them to send you the balance, arrangement and settlement payoff in writing.

I also think it is extremely wise never to give banking information over the phone. Never let them do post-dated checks. I owed our state back taxes and was being told by the collection agency that they could only accept post-dated checks for the total amount.

After I said I knew this wasn't true because they had cashed the check I sent in and since I had kept to the arrangement that their company and myself had made, I didn't see the need to give them my banking information, nor did I authorize them to do post-dated checks from their system.

My account was transferred to the Manager and eventually placed back into the hands of the state(after two formal complaints about collection practices of the collection company). I was unwilling to submit to their company policies. You don't have to play by their company policies.

Know your rights. If you are honest and and write everything down, ask them to send you correspondence and keep communication open, It will be a lot less stressful on you.