This week we have a special series of tips on dealing with collection agencies. If you owe money, it’s likely a bill collector from a collection agency will be calling to collect. Our first tip for dealing with collection agencies: don’t panic.
The bad news is they are calling because they want to collect money you owe. The good news is if they are calling, it means they have not taken more serious steps, like taking you to court to get a wage garnishment. If you are talking, you still have time to deal with them. You can propose a payment plan. You may be able to make a settlement with them for a lump sum for less than the full amount owed. Perhaps you are not working, and you can’t pay anything at this time. That’s fine, it also means they can’t garnishee your wages, because you don’t have any.
The point is this: whether or not you can pay them, don’t panic. Panicking won’t help.