Stay calm and take control, here's what you need to know.
1. Verify the Debt
When a debt collector contacts you, take these steps:
- Request Validation: Collectors must send you a written notice with details about the debt
- Watch for Scams: Be wary of pressure tactics or requests for personal financial information
- Use Our Dispute Tool: Our debt dispute tool can guide you through the verification process and even send a dispute letter for you (small fee applies)
2. Know Your Rights Under the FDCPA
The Fair Debt Collection Practices Act protects you from abusive practices. Collectors cannot:
- Call before 8 a.m. or after 9 p.m.
- Use threats or profane language
- Contact you at work if prohibited
- Discuss your debt with others
For more details, visit our FDCPA Checklist.
3. Check the Statute of Limitations
Debts have a time limit for legal enforcement, varying by state. Acknowledging the debt or making a payment can restart this period. Learn more at our article on Understanding the Statute of Limitations on Debt.
4. Document All Communications
- Keep Records: Save all letters, emails, and notes from phone calls
- Log Details: Note dates, times, and summaries of each contact
- Request Written Communication: Ask collectors to communicate via mail or email to maintain a clear paper trail
5. Develop a Plan
Assess your current financial situation. review your budget and know what you can afford before agreeing to any payment plan.
6. Negotiate Wisely
- Propose a Settlement: It’s acceptable to offer less than what’s owed
- Get Agreements in Writing: Before paying, ensure the collector confirms the terms to prevent them from selling any remaining debt
- Learn More: Read our guide on How to Negotiate with a Debt Collector
7. Limit Personal Information
Do not share sensitive details like your Social Security number or bank accounts until you’ve verified the collector’s legitimacy
8. Understand Your Credit Report
- Check Your Report: Review your credit report regularly for accuracy. You can get free reports annually from AnnualCreditReport.com or use services like Credit Karma for more frequent updates
- Know the Impact: Understand how collections affect your credit score. Even paid collections can remain on your report for up to 7 years
- Monitor Changes: Keep an eye on your report for updates. New information or removals can significantly impact your score
9. Seek Affordable Help
- Non-Profit Credit Counseling: They offer free or low-cost advice
- Use Our Chatbot: For personalized guidance, chat with DebtChat
10. Report Violations
If a collector violates your rights, file complaints with:
- The Consumer Financial Protection Bureau (CFPB)
- The Federal Trade Commission (FTC)
- Your State’s Attorney General
Conclusion
Facing a debt collector can be intimidating, but understanding your rights empowers you to handle the situation effectively. Stay informed, document everything, and don’t hesitate to seek assistance.