Okay, so you are in debt and are not sure how you will ever get out of the hole you have dug for yourself. The phone rings all day long as collection agents attempt to collect debts you accumulated during the time you were in financial crisis. You feel helpless, out of control, not knowing how to respond to these calls because you simply don’t have the money to pay off your debts and still eek out a meager existence. Below are some things you need to know in order to better respond to the collectors on the other end of the phone.

The first thing you need to know is that good collectors are prepared with facts and figures, records of past conversations, and a wealth of ‘closes’ designed to get you to pay up. Imagine this picture…The collector calling you is sitting in a comfortable chair looking at a computer screen that displays all of the relevant data about the debt the collector is attempting to collect. The screen has information about the creditor on whose behalf the collector is working, the amount of the debt claimed, a record of all recent phone calls including those made but for which there was no connection made. The collector also has more detailed records available at the click of a mouse so that during any conversation you can be reminded of anything you said or did over the telephone. Knowledge places the collector in the enviable position of aggressor. You, on the other hand, are unprepared for the phone call and have none of the relevant information directly at your fingertips. This places you in a defensive posture from the start.

Additionally, it is important to remember that collectors are well trained in a number of techniques for ‘closing the sale’ or, in other words, collecting the debt in full. They are trained to keep the conversation as short as possible, knowing the longer they are on the phone with you the more likely they are to make a legal error thereby nullifying the ability to collect the debt. Only if they sense a ‘kill’ or if they are trying to solve a problem will they stay on the phone longer than one or two minutes. Often, collection agencies place a quota of calls that must be made per hour and/or create a collection to call ratio as a quota. In either case, it is important for the collector to keep the conversation short and simple while still attempting to collect the debt.

Collectors are often paid a percentage of what they collect and are paid handsome bonuses for reaching and exceeding their collection goals. This fact places considerable pressure on the collector to make the ‘sale’ by collecting the money owed–and as much of the money owed as is possible at the moment they are on the phone with you.

If a collector calls they will ask to speak to you. If you are unavailable they are not to inform the person answering the phone that they are attempting to collect a debt. They will ask that you return their phone call as soon as possible and will provide their name, a contact phone number and, often but not always, a reference number to use when you call back. That’s it. So when you call back you are still on the defensive because before an agent gets on the phone to speak with you they have pulled your digital file and are reading it on their screen.

Collectors are also obligated to verify that you are really the right person so they will ask for additional information to verify your identity. Often they will ask for your social security number. I suggest that you respond only with the last 4 (at most 5) numbers of your SSN. If they ask for your address ask them to tell you what their records show and you will verify if that is correct or incorrect. Also, the collector does not want to identify for whom they work or what creditor they represent until information is verified. You should demand that they make that identification before you divulge any personal information. This is a matter of protecting your identity in this age of identity theft.

Creditors are trained to inform you of the reason for their call and then they will use the oldest trick in the books to get you to speak first…They will go silent. The idea is that if they create a vacuum of silence you will be the first to fill that vacuum. Don’t. Wait for the collector to speak first. After about 10 to 13 seconds the collector will begin speaking again, perhaps asking what your intentions are with regard to the debt in question. If you are in a position to pay all or part of the debt then make an offer of settlement. Make sure that the offer you make is well within your ability to pay because you can be certain that you will receive a counter offer. It is also a good idea to make the settlement offer precise. Let’s say you owe $849.47 to the Acme Widget Company and the debt is legitimate.

Since it has been placed in the hands of a collection agent Acme has written off the debt. Also, it is quite likely that ABC Collection Agency purchased the bad debt from Acme for a substantial discount. ABC makes its money by collecting more than they paid for the debt in the first instance. ABC may also charge Acme a commission for collection and pay the difference back to Acme. The point is there is a minimum that the collector can settle for and still make a profit on its operations. But back to the $849.47 debt. If you make an offer of $300.00 to settle you will generally receive a higher counter offer than if you offer say $279.50. The psychology of the precise offer is that you give the impression that you have carefully considered the possibilities and what you can realistically afford at this moment, that you have a genuine desire to clear this debt off the books and they you have the money on hand to make the payment. The $300 offer is too general to communicate that kind of precision.

If you only provide an excuse for non-payment the collector sees this much in the same light that a well trained sales professional sees an objection and employs a series of counter measures to combat the objection. You will be subjected to a series of questions and demands such as:

• A verification of information on your account
• A suggestion that you borrow funds from relatives
• A suggestion that you pay the full amount is easy monthly installments drawn directly from your checking account
• You will be asked on which day you are paid from your work
• If you make a settlement offer they will counter with a figure higher than you suggest that will be at the top of where they believe you can realistically pay

In the final analysis, the collector will often not settle for a verbal commitment to pay but will want a commitment in writing accompanied by your payment.

Don’t burden collectors with your sad tales of woe. First, they don’t care about your personal tragedies. Secondly, they are trained to respond with a sympathetic remark and then ask when you will be able to pay up.

Finally, remember that collectors keep good notes of each and every conversation they have with you. The purpose of these notes beyond record keeping is to find areas of contradiction in your story so that you may be tripped up in future conversations. I suggest that you do two things.

First, keep excellent records of your conversations yourself. Note to whom you are speaking and clarify any promises you make to them or offers they make to you. If your records are as good as theirs then you may be able to neutralize their aggressive advantage. Secondly, keep your conversation to a minimum and make no commitments you are unwilling or unable to keep.

Copyright © 2007 Roger Passman All Rights Reserved

Roger Passman is the President of WDC Financial Services, Inc. His firm works with clients to restore damaged credit, negotiate payment plans, and reduce debt. You can visit WDC Financial Services at http://www.wdcfinancialservices.com

WDC Financial Services also maintains a blog filled with information about managing financial obligations and more at [http://creditrepairman.wordpress.com]

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The Fair Debt Collection Practices Act (FDCPA) is a federal law that is designed to protect consumers of credit from predatory actions of debt collectors which are pursuing a debt. It provides various protections for borrowers and puts restrictions and limitations on what actions collection agencies may engage in.

When a lender or law firm violates the Fair Debt Collection Practices Act, homeowners may mention these violations in their foreclosure lawsuit defense. Although the Act may not apply in every situation, many mortgages have been sold to third parties, investors, other lenders, and servicing companies, under the appropriate circumstances, and the law would come into play.

Disclosure notice guidelines, dispute procedures, and even stopping collection calls on a debt are covered by the law. The law also allows credit consumers to initiate lawsuits directly against a debt collector in order to obtain monetary damages for violations of the FDCPA, and it can be surprisingly simple for collectors to violate the Act.

When a mortgage goes into default, the current owner of the loan, however, will not be considered a collection agency when it is pursuing collection on its own debt. It must use its own official business name and must not engage primarily in the business of collecting debts. In the case of the mortgage lending business over the past decade, a large number of loans are transferred to a new owner once they go into default.

The FDCPA applies when a mortgage loan is sold or transferred and another collector begins debt collection attempts in the case of foreclosure. It is important for borrowers to keep in mind, though, that if the lender before the default holds onto the loan, the FDCPA does not apply. But if the bank transfers the loan to another company, the law will apply to the new owner.

Once the lender or servicing company changes after default, though, the new company which purchases the debt counts as a collection agency and falls under the Fair Debt Collection Practices Act. Any law office that the lender hires to pursue the debt or bring the foreclosure paperwork in the county court system must also follow the FDCPA and may be held responsible for any failures.

Homeowners have a number of protections under this law. If they inform the debt collector (or lender or law firm) in writing of their desire not to be called regarding the debt, any further communication is a violation of the Act. As well, lawyer fees that are charged to an account that are not specifically authorized in the original documents is a violation of the Act.

The FDCPA also outlines violations due to harassment, abuse of borrowers, misleading representations, and debt validation, among other provisions. Other rights protected under the Act can be found by reading the Act itself or consulting with an attorney familiar with the law in detail. There are also many websites that go into further detail about this particular federal law.

Each violation of the Act may cause liability on the part of the debt collector for any actual damage suffered by the borrowers, $1,000 per offense, and costs of any action to defend the foreclosure lawsuit, initiate a foreclosure lawsuit, and attorneys fees. In effect, there are numerous ways to violate the law, and many collection agencies do not care enough about it to follow it as outlined.

When fighting back against a foreclosure complaint, homeowners may want to use violations of the FDCPA (and they may be amazingly easy to discover) to offset the judgment the bank is seeking. Violations may be included as counterclaims in answering a complaint. The law firm retained by the mortgage company also counts as a collection agency and may be brought into the lawsuit for its own violations of the Act.

Nick publishes articles on the ForeclosureFish website, which attempts to educate borrowers how they can avoid on their properties while they still have time. The site describes various methods to hold onto a house, including foreclosure loans, cash for keys, mortgage modification filing bankruptcy, and others. Visit the site today to read more and discover what options you can use to prevent losing your home: http://www.foreclosurefish.com

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How does our current economy affect the way debt collection agencies perform? As individuals’ debt grows in a tough economy, US debt collection agencies are experiencing a higher volume of assigned accounts. Does this mean there is a higher rate of return to their clients? No, not necessarily. To some, it may look like the industry is booming because of the high increase in bad debt. But…this type of economy also creates a more difficult environment for bad debt recovery.

Collection agencies need to be aware that this economy has affected peoples financial health and should try to help with a solution rather than adding to their distress. Many people in debt appreciate a firm, but helpful tone to a collection call, increasing the probability of successful collections. In these difficult times bad debt recovery agencies must remind their collectors that when there isn’t enough money to pay everyone, the debtor will most likely pay the companies that are willing to work with them first.

It is important that a bad debt recovery services company has strong customer service skills and works hard to properly represent the clients business and maintain their corporate image. A good debt collection agency knows the proper way to contact debtors and stresses the urgency of the situation without being verbally abusive or making threats, providing a professional debt recovery solution. Collection agencies are not paid to harass people; they are paid to collect money in accordance with the F.D.C.P.A. (Fair Debt Collection Practices Act). For more information about collection laws you can contact the Federal Trade Commission.

Steve Boggs

NCC Recovery, Inc. – Bad Debt Recovery Specialists

Website – http://www.nccrecovery.com

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What is a Debt Collector – These are third party companies that collect debts on behalf of credit card companies, banks, hospitals and other businesses. When a creditor decides their chances of collecting a debt are pretty slim, they oftentimes turn the debt over to a debt collection agency for recovery. Here’s how the process typically works… a debt collection company purchases debts from the original creditor, usually for pennies on the dollar or on a contingency basis. Next, they then attempt to recover all or a portion of the original debt.

The issue is not the fact that they are attempting to collect debts. The issue is the manner in which they go about it. Even in light of the fact that we have laws in place to protect consumers, numerous debt collection companies still resort to illegal practices. That includes but is not limited to: harassment, coercion tactics, verbal abuse, threats of violence and illegally accessing/freezing debtor’s bank accounts. If you or someone you know has been contacted by a debt collector, these five facts are crucial to how they will deal with you and how you will deal with them. Learn them and pass them.

Fact #1 More people complain to the (FTC) Federal Trade Commission about debt collectors than about any other industry. The complaints are so many that some attorneys are making a great living specialize in suing rogue collectors. Apparently, it goes without saying that debt collectors don’t always follow the (FDCPA) Fair Debt Collection Practices Act. Get a hold of this, in 2007, the (FTC) received more than 70,000 complaints against companies and individuals engaged in questionable and illegal debt collection tactics. 

Fact #2 Just because you may owe money to a creditor, as a consumer, you still have rights under the (FDCPA) and state laws. Prior to these laws, debt collectors operated without impunity. Meaning they would call you all hours of the day and night, use abusive language, threaten you and use other demeaning tactics that forced some debtors into mental and emotional breakdowns.

Fact #3 Almost all third party companies involved in collecting debts hope you know nothing about your rights under the FDCPA or those afforded to you by your state. Your lack of knowledge puts them at a decided advantage. That’s why it’s critically important, if someone ever contacts you to collect on a past due bill or debt, assume they are going to violate FDCPA, stop everything you’re doing and immediately learn your rights. Also, contact your state to find out what laws they have in place to protect consumers from unethical debt collection practices.

Fact #4 When one of these collectors violates your rights, FIGHT BACK! Even though you may owe the debt, never allow any debt collector to push you around. Inform them, that when they deal with you, they will do so according to the (FDCPA) and your state laws. By taking this stance, you put them on notice that your Federal and State protected rights WILL NOT be violated.

Fact #5 No matter how powerful they appear, no company engaged in the debt industry wants to appear on the radar of the FTC Federal Trade Commission or be red flagged by any state Attorney General. Chances are, when that happens an investigation has already ensued and the authorities are about to drop the cease and desist bomb. If any company or person has violated your Federal or State rights under the LAW, don’t even think about it, SUE THEM!

What We Have: Clear and Concise Paths To Help You End Your Debt Problem. You Won’t Find This kind of Guidance Anywhere Else, Not For Free.

Who It’s For: ANYONE who needs, wants and passionately desires to get out of debt and live Debt Free without losing their sanity and dignity.

Joel Marks has been helping people get out of debt and avoid bankruptcy and foreclosure for over fifteen years. Utilizing savvy debt counseling, debt advice, Federal laws and a team of attorneys, he has quietly assisted thousands in getting debt free.

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Many people want to know if it is possible to remove a charge-off from their credit report. The answer is, it may be difficult, but it can be done. Some people are unclear as to what a charge-off actually is. A charge-off is a debt which a creditor no longer feels it can collect and subsequently decides to write-off. This will typically happen after several months of missed or late payments during which the creditor will send numerous letters and will try to communicate with the borrower by phone.

It is best at this point to attempt to negotiate a payment plan with the creditor to avoid the account going to collections. Do not ignore attempts by the creditor to contact you. Normally, creditors are willing to work with you if they see that you are trying to make an attempt at paying the debt. Once the debt is written-off, the creditor may sell the debt to a collection agency who will then own the debt. Collection agencies are known for their collections tactics which can include harassing phone calls and threats of court action if the account is not paid in full.

A charge-off will appear on your credit report and can remain for up to seven years. This charge-off will severely damage your credit score and will harm your chances of obtaining credit from other lenders. This is why it is important to have charge-offs removed from your credit report.

To begin the process of removing a charge-off from your credit report, you need to request a copy of your credit report. Once you receive the credit report, check to see that all the information is accurate. If any entries on your credit report, including your charge-off, are false or inaccurate, you can attempt to have those entries removed. To do so, you will need to write the credit reporting agency and request the revision or deletion of the offending entry. Make sure to include any substantiating documentation.

Alternately, you may contact the collection agency and try to come to an agreement. Since collection agencies purchase debt for cents on the dollar, you can try to arrange a reduced total amount due and make a lump sum payment. If you do not have money for a lump sum payment, you can try to arrange a monthly payment plan. Whatever agreement you come to with the collection agency, make sure that you receive in writing an agreement to erase the charge-off from your credit report or, at the very least, to have the charge-off status revised to “paid.”

To summarize, if you find yourself falling behind in your payments, contact your creditor and try to work out an arrangement to avoid a charge-off. If the charge-off account ends up with a collection agency, attempt to negotiate with the collection agency to pay the debt and remove the charge-off entry from your credit report.

Midland Credit Management Ruined my Life. What I Did to Get Revenge. http://www.MidlandCreditDebt.com.

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The term “debt collector” means any person who uses any instrumentality of interstate commerce or the mails in any business the principal purpose of which is the collection of any debts, or who regularly collects or attempts to collect, directly or indirectly, debts owed or due or asserted to be owed or due another.

Creditors hire collection companies to collect debts for them, because they simply do not have the time or resources to chase down all of their severely overdue accounts. Collection agencies have cheap labor and a streamlined system to pursue such accounts. When a creditor hires a collection agency, the debt has been assigned to the collection agency. If a collection agency is successful at collecting the money on the account, they usually keep a percentage of what is collected as payment for services. Plus, they must show proof positive that you owe them this debt. It’s not enough to send you a computer-generated printout of the debt.

The following explains how to validate a debt:

1. Send a letter requesting validation to the collection agency. Many copies of letters can be found online.

2. Dispute the collection with the credit bureaus.

3. Wait 30 days to hear back from the collection agency. Most likely they will not respond or they will respond saying that they received your letter. Only a letter which includes:

* Proof that the collection company owns the debt/or has been assigned the debt,

* Complete payment history, starting with the original creditor, and

* Copy of the original signed loan agreement or credit card application is satisfactory.

4. If they have not sent you satisfactory proof, send a copy of your receipt for your registered mail, a copy of the first letter you sent and a statement that they have not complied with the FDCPA and are now in violation of the Act. Tell them they need to immediately remove the collection listing from your credit report or you are going to file a lawsuit because they are in violation of the FDCPA, section 809 (b).

5. Wait 15-20 days to hear back after this second letter to the collection agency. They will either remove it or not respond.

6. If they do provide a contract with a signature from the original creditor showing that you owe the debt, there is one more thing you can try: see if they are legally licensed to collect the debt in your state. Here is a good site to begin your search.

Not all states require licensing, however. Find out the specific rules in your state of residence.

If you believe that they are not licensed, and licensing is required in your state, write them another letter and tell them they are in violation of your state’s collection laws and are subject to prosecution and fines. Cite your state’s fines and procedures in the letter. This is a last ditch effort, but has worked in some cases.

7. Typically, your work will stop here, as most collection agencies will bow down to your demands and send you a letter agreeing to remove the listing. Now all you have to do is send a copy of the letter to the credit reporting bureaus.

If the collection agency did not agree to remove the listing, then you need to continue with a lawsuit against the collection agency in small claims court. This step will be explained in a future article.

Eric Gartle has worked in the debt settlement industry for the last 10 years and has vast experience negotiating personal as well as business debt. For more information please visit http://www.pemperandgartle.com

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If you are wondering if you should or can open your own collection agency, the answer is yes, you can! There are some things you should do before opening your own agency. You should have experience in the collection industry. You must know what type of business the collection business is before you can understand what you are getting into.

You need to know the day-to-day activities of collections. You need to know the laws in the state you are in and the states you will be collecting in. You want to have experience dealing with people and negotiation skills.

You should also be ready to spend a lot of time getting people interested in your business. If you have worked in the industry for other people, new clients will know you have experience and be more comfortable placing accounts with you. If you don’t have any experience, you need to build credibility so potential clients will know you can do the job and do it well.

Write a business plan. If you are going to borrow money to start your agency you will need a business plan to show the bank. Usually a business plan is made up of:

An Executive Summary

A Business description

Marketing Strategies

Competitive analysis

Operations and management plans

Financial statements

I have an example of a Business Plan and a Marketing Plan in my book, How to make money collecting money, Starting a Collection Agency. You should also include a cover or folder for your business plan. Include a title page and a table of contents. This will be very professional and impress any bank you may present it to.

You should LOVE collection work. You either love it or hate it! If you love it, you will be passionate about making your business work.

Michelle Dunn is the Author of the FREE e-book How to Help You Get Paid, Credit & Collection Forms and Letters. She has also written and published How to Make Money Collecting Money, Starting a Collection Agency that is available from http://www.michelledunn.com and all major bookstores. For more information on Starting a Collection Agency, order her book for immediate delivery.

She is now publishing Become the Squeaky Wheel, A Credit and Collections Guide for Everyone. Look for her boxed set coming out in 2005, which will include, Starting a Collection Agency, The Squeaky Wheel, and a book of collection letters and forms. Dunn publishes her own books through her publishing company, Never Dunn Publishing LLC.

Michelle opened and ran her own very successful collection agency for 8 years. She has over 17 years experience in debt collection. To sign up for Michelle’s FREE online networking group visit http://www.credit-and-collections.com Get FREE forms and tips for starting your own agency.

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For any sized business, successfully managing debt and finding ways of recovering bad debt is very important. Often, even with careful vetting and strict credit limits, it is can still be impossible to completely avoid generating bad debt, which involves credit or merchandise being provided to a customer, who in turn does not their debt. Since bad debt is a part of almost any type of business, learning how to recover these types of assets can make or break a company. To help protect their assets, credit collection agencies are often used, with these companies often opting to use a third-party debt recovery agency, as opposed to an in-house debt collection agency.

In-house debt collection programs are often also called first-party debt collections, as the company who initially issued the credit is directly involved with the recovery of said debt. A first-party debt collection program can offer some advantages, mainly because the time between an account being deemed bad and it being turned over to the debt collection agency is often much shorter than if a third-party is used. Often, making sure information quickly and effectively is passed between the credit issuing department and the debt collection department can be shorter and have fewer hurdles.

However, while there are some advantages to preforming in-house debt collections, setting up a program that is effective is no simple task and requires a great deal of resources and training, which is why many companies find that a third-party debt recovery company is not only less expensive, but also more effective.

Third-party debt collection companies are not directly affiliated with the original company that issued the debt, the first-party, nor are they in anyway associated with the debtor, who is referred to as the second-party. Instead, the collection agency is unbiased and, since they are not associated with the company, do not have to worry about office politics or protocols, which often serve to interfere with debt collection services.

Depending on the service agreement with the creditor, the collection agency may make a set amount per action or only get a percent of recovered debt. In the case of the latter, where the company is paid a commission only on debt that is recovered, there is a greater incentive to be effective and efficient, as the company will only get paid when they are successful in recovering the creditors assets. These companies often offer a “No-Collection, No-Fee” guarantee.

In the case of debt collection agencies that get paid on per-action basis, this is often largely for the initial contact, or soft-collection process. During the initial soft-collection process, the client will receive one or more letters, which urge them to pay the debt to avoid it being sent to collections. In these cases, the collections agency might charge as little as $10 per letter, with the understanding that later on during the process, a third-party debt solution will be used.

A debt recovery program can be a great way to ensure that bad debt does not force a company underwater and that a companies assets can be maintained. It is not uncommon for companies to develop a mix of in-house and third-party debt recovery policies, to ensure that the most effective debt recovery solutions are maintained.

Roger Amhurst knows that protecting ones assets is an essential task for any company, especially in today’s financial market. There are many companies, such as Professional Recovery Consultants who offer a way for businesses to outsource their collection needs, without sacrificing quality or costing an arm and a leg. These companies offer bad debt recovery, which is a necessity for all businesses to carefully manage, effectively and efficiently.

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It can be both worthwhile and profitable to learn How to Start a Debt Collection Business. With growing consumer debt and therefore a greater need now than ever for debt collectors, this is a great time to break into the field and start on the road to financial independence. Essentially, all a debt collector does is help businesses collect delinquent debts through the telephone and mail. This means low overhead and start up costs making learning how to start a debt collection business a great first step towards self employment and the freedom that comes with it.

Estimated start up costs and pricing guidelines:

The low overhead and start up costs make a debt collection business an ideal choice for people looking to start their own business. With a personal computer, cell phone, fax machine, and other home office essentials such as a printer, a person has just about all of the essential equipment for less than $1500 if they shop around for bargains. But part of the start up costs should include some allotment to pay online investigation companies to help you track debtors.

While prices vary, a good rule of thumb is that learning how to start a debt collection agency will generally net you 20-30% of what you collect on the behalf of business clients. Of course debt is classified and if you start out trying to collect older debts, there is the chance that the commission can go as high as 50% or even 60%. Of course the commissions are higher because the chances of collecting these older debts is less. All told, pricing generally depends on the likelihood of collecting the debt and that is generally based upon the age of the debt.

Recommended experience, skills, and training:

Without question, it is a mistake to think about learning how to start a debt collection agency if you do not have any debt collection experience. The industry demands a lot of patience, empathy, and a fairly thick skin in order to have a decent chance for success. If you have not experienced the demands and stress involved in debt collection, then you may at least want to consult with some people in the industry before thinking about a business in this field.

Marketing tips:

As other businesses will be your potential clients, you are going to want to create and maintain a website that looks as professional as possible. Budget permitting, you may want to hire a website creator and a freelance writer to help you create the best website possible and achieve higher search engine rankings. You will also want a listing in the Yellow Pages and it may be a good idea to join local networking groups to help you in spreading the word about your company.

Financing sources:

Being a home based business in most cases (at least in the beginning), financing options are limited and a conventional business loan from a bank will be difficult to obtain. However, with good credit and a well conceived business plan, it is possible to receive a business loan from your local bank. Grants from the local, state, and federal governments are available and can actually be a great source of financing. If this is not an option for you then you may have to learn how to start a debt collection agency with your savings or the generosity of friends and family.

Income Potential:

The income potential for the first full year of operations can be in the high five to low six figures. Depending on the type of debts you attempt to collect and the fees you are able to negotiate, debt collection can truly be a very profitable business. If you are wanting to know more about how to start a debt collection business, a good book to consult is “Start a Home Based Collection Agency,” by Robert Bill.

© Copyright Randy Wilson, All Rights Reserved.

Randy currently has a website dealing with Reviews of Coffee Related Products such as coffee makers, espresso makers, coffee, k-cups, and more plus articles on coffee enemas and other coffee and health related topics. He also has a website of Reviews of Small Appliances such as ice cream makers, vacuum cleaners, mixers, irons, toasters, food processors, and many other appliances.

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Many people don’t realize that they have rights against Collection Agency Harassment. You do not have to put up with there abuse. If you owe them a lot of money there is a way out for you by using a Debt Consolidation Company to get Debt Relief.

You should be aware of your rights as a customer. Collection Agencies are not allowed to :

1. Harass you in any way

2. They cannot call your home before 8:00am or call after 9:00pm, unless you agree to those times

3. They cannot talk to you in an abusive manner

4. They are not allowed to call your friends or family to try to collect your debt from them

5. They cannot call you at your job

If you know that you just cannot pay your debts, you do have a chose for Debt Relief. One way to get out of debt is to find a good Debt

Consolidation Company.

How will Debt Consolidation help you to get rid of your debt and stop the Collection Agencies from harassing you. Debt Consolidation companies can negotiate with the collection agency. Most of the time the collection agency is willing to settle your debt with them for far less than you owed them to begin with.

For Example:

If you owe the collection agency $9000 and you sign-up with a Debt Relief Company they could possibly get the $9000 lowered to $3000. Other factors would also be considered to these amounts, but you get the idea.

When you are dealing with Debt Relief you would also have the option to get on a payment plan, which means you can pay a specific amount per month.

How this works is the Debt Relief Service will take all of your bills and negotiate them all to make one small bill. This is how you will pay only one bill per month. This is a great way to pay off all of your bills. This is what I did a few years ago. I tell my personal story in my other article I have posted already.

Author Leslie Johnson is dedicated in helping people get out of Debt. If you want the harassment to stop and for your Financial Debt to be paid off you must take that step for a Free Consultation at http://www.debtsettlementcuradebt.com