If you can’t afford to pay the entire balance, there are several things you can do to avoid being harassed by debt collectors. First of all, you should try to contact the original creditors and ask about a debt sale or collection agency. You can also negotiate a payment amount with the collection agency directly. However, remember not to overextend yourself because it will only push the problem further down the road. If you can, plan to call the collectors at the end of the month. Collectors are usually more likely to negotiate a deal in these times because they have quotas to meet news247 com.
If you can not pay the full amount, consider asking for a debt waiver. This type of arrangement is possible if you are low income or don’t own any major assets. However, you should be careful not to give the debt collector access to your bank account unless you are certain that you can not pay the entire amount. Otherwise, you will never get your money back. Instead, pay the debt with a cashier’s check or a prepaid debit card worldnewsite.
After contacting the debt collector, you should write a dispute letter. If you don’t recognize the debt, write the debt validation letter. It is also important to send a validation letter to the original creditor. This way, they will not be able to pursue you without proof. Also, it is important to get a copy of the original debt validation letter in order to help you determine whether the debt is legitimate or not.