Credit Collection Services
What we have to do here is separate the 2 faces of credit collection services. One is a US debt collection company but the others are debt collection agencies in general. Let us delve into both and see what we can do for you.
Debt Collection By Any Other Name
Make no bones about it, any company using the credit collection handle is in debt collection. They are companies chasing debtors for creditors.
On the other hand, you might be searching for a company because you have lent to someone so you need help to retrieve your money or asset. If you are looking for an unusual but tested way to get your money back. We are the collection company for you.
5* Credit Collection Services
You will notice one very strange thing. Almost without exception all the companies offering credit collection services had 5-star reviews. It is hard to imagine that debt collection has such a great reputation about it. Could the companies be using reputation management software, simply making the reviews up or ignoring bad reviews.
How To Handle Credit Collection Services
If you are being contacted by a debt collection company, ensure you visit their website. This gives you and idea about how to handle them. Know thy enemy! Please remember they are just doing a job.
Before you accept any liability of any sort or even identify yourself, ask for documentary evidence of the debt posted to you. Many debt collection services companies buy “your” debt for pennies. They hope that alleged debtors will just pay. They have no soul and are not interested in your circumstances. It does not matter what the law states or how they present themselves. Debt collectors make commission becuase they collect from you.
Emails and automated calls cost them very little. They will send them willy nilly. Simply block them. Do not respond, as it is tantamount to accepting that you are the debtor.
If they send a letter. Return it. Do not ignore it. Keep the snail mail going.
Many companies (UK and USA) will state they will take you to court. Inform them if they do, that you will want it to be heard in a court of your choice. Normally your hometown, as this will add unnecessary expense to them.
Phone Calls From Credit Collection Services
You should refuse to use phone calls as a means on communicating. Although there is some awesome phone call analysis software available, but not every debt collection company uses it. You would be surprised at the reason. Collecting on regulated loans is full of rules for debt collectors. They would have to self-report if they were breaking the law.
Surely this software can record all calls and analyse what is being said? Yes, it can and that is why they do not like it. Not using analytical software allows the collection industry to “not record” what some debt collectors say to debtors.
You should be calm at all times, never lose the plot or become an aggravating nuisance. It does not work. We know from personal experience of debt collection, if you annoy a debt collector, they will take pleasure in returning the same. The difference is that debt collection companies normally have unlimited funds and time to do so.
Who Can You Complain To?
When we worked in finance, the biggest reaction was when a director or shareholder received a letter. If your fist letter does not work, try and find out he name and addresses of directors or shareholders.
Online Reporting Of Credit Agreements
The first thing for you to do is get a copy of your credit file. Write to the finance companies and ask the credit collection services company to remove your details. It is far more difficult to have the credit bureaux remove it.
It is far easier to remove your details than you think. A company reporting finance agreement have to report monthly. All they do is code your file – remove. You want the agreement completely removed.
You might even find that the company is not reporting your details or reporting them incorrectly.
There is no such thing as a blacklist. If anyone say it to so, report them to a senior member of the company.
Last Option To Clean The Sheet
If the debt is yours and can be proved. You can negotiate to settle and have the debt removed from online reporting. As we have said what the finance company can do it can also undo. The credit collection services company can inform the credit bureaux to remove your debt. Then you are back to a clean sheet.
However, if the debt has a court order, this can only be marked as paid. Because it is difficult to have it removed, although it will disappear in time if paid.
Questions To Ask A Debt Collector
If you are called by CCS or any other debt collector and you are unsure about the callers legitmacy. You have every right to ask some questions. If they are unable to answer on the phone ask them to reply to the questions in a letter to the debtor at the address they have.
Never reveal personal details or accept any responsibility for any debt. They are on the phone to answer your questions.
Name, address and phone number of the company THEY are calling from. Any legitmate company will gladly hand this over. You can also ask the callers name. And are they calling from the registered address or their own home.
Ask them the name and address of the person they are trying to contact. Be firm that you will not divulge your personal details. Nor do you accept that you owe any money or recognise anything they say.
Ask A Tricky Question
The debtors bank details or social security number. Under no circumstances should they reveal this if they are legitmate. And never give yours.
Write To Me
Without giving any of your details ask them to send you a letter quoting a reference you have made up. I want you (the caller) to use the reference “our unwelcome call today”.
Ask them if the call has been recorded. Ask them to send an email with audio, DO NOT give your email address. They can include a link in their letter to you.
Acceptance and Remorse
This is a general guide on how to deal with a debt collecter be it credit collection services or any other lender. Acceptance and remorse sound quite powerful, so what do we mean.
If the debt is your simply accept it as so. It allows you to deal with it in your own mind. If you have a dispute ensure it is not frivolous. Mube they have got the spelling of your name slightly wrong or made a simple spelling error. If it is your debt accept.
Even though you accept that the debt is your you can insist on delaing directly with you lender or supplier. They cannot transfer the obligations they have under any agreement.
Remorse is an unusual word to use, and to our knowledge we are the only advice site that does so. Let your lender or debt recovery agent know that you have real remorse and you are trying everything you can to resolve the situation to everyone’s satisfaction. You might have spent the money or used the product and no longer use it. However you did and you will have to resolve the issue.
You will gain the moral high ground by having true remorse and debt collectors will want to help you get out of your debt. An income and expenditure review will go a long way in getting a deal done. Be truthful and honest.
Many peole like yourself are in this situation through no fault of your own and CCS should hopeful recognise this.
We mention another situation other companies do not mention. Should you be in the siutation you are becise of an addiction. Seek professional help. You will be amazed at what help you can find.
Credit Collection Services Comments
If you have any experience of credit collection services companies, we want to know and share your comments.
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