If consumers know who they are talking to, they can come up with a technique to gain the upper hand during debt negotiation.
Los Angeles-Long Beach, CA (PRWEB) October 21, 2013
On October 16, Credit Card Consolidation Loan focuses on debt collectors to help consumers learn how to deal with collection calls. In a published article entitled “How To Deal With 3 Different Types Of Debt Collectors,” the debt relief website describes the different collectors that can call consumers. The article implies that if consumers know who they are talking to, they can come up with a technique to gain the upper hand during debt negotiation.
The article begins by discussing how debt collectors usually mean bad news for the person in debt. When they start calling, that only means the person had been defaulting on their payments. They are calling to force the consumer to pay their dues.
The article reveals that there are three different type of debt collectors.
1. Collection agents of the creditor. The first caller will be an agent that comes from the collections department of the credit card company. Since they represent the creditor, they are most likely to deal with the consumer like a client. After all, they want to retain the customer. They usually handle the calls for the first 6 months since the consumer defaulted on their payments. According to the article, they are the best people to negotiate with for either a new payment plan or a debt reduction.
2. Debt collector from a contractor agency. When the creditor decides to charge off the debt, they will transfer the collection efforts to a third party collections agency. These people are paid for the collection so the consumer must expect that these calls will be a little more aggressive than the previous collector. The creditor still owns the debt but the collectors will make the calls quite nasty so the consumer will be forced to pay. However, they usually still abide by the Fair Debt Collection Practices Act or the FDCPA.
3. Debt collectors from debt buying agencies. There are collection agencies who buy old zombie debts that are usually beyond the statute of limitations. They are sold for a very low price by the original creditor because these debts are harder to collect. If the consumer knows that the debt is past the statute of limitations, they know that they can keep the debt unpaid and they cannot be sued for it. The collection agency will buy these, call up the consumer who owes it and trick them to acknowledge or pay for a portion of the debt. When they do either of these, that makes the statute of limitations void. Consumers can be sued for that debt again.
Credit Card Consolidation Loan believes that this information will help the consumer come up with a technique to deal with the collection calls. The article also provide tips for consumers trying to negotiate with these collectors. Things like documenting everything, knowing the FDCPA, etc.
To read the rest of the article, click on this link: http://creditcardconsolidationloan.org/how-to-deal-with-3-different-types-of-debt-collectors/.
Credit Card Consolidation Loan is a debt relief website that offers debt consolidation loan as a solution to credit card debt. To know more about the debt relief program, call 877-843-6110.