Learn what to say to collectors, and - just as importantly - what not to say to debt collectors, when they call.
You are reading Debt Collection Answers. If you did not start at the beginning of this free guide to dealing with debt collectors, please return to the Debt collection Answers introduction or read our guide to help you understand the debt collection process.
The information in this section is some of the most important in this book, so read it carefully!
The FDCPA does not require you to give a debt collector any information about yourself or your finances. Therefore, no matter how much a debt collector may insist, do not answer any questions or provide any information about your credit accounts, income, bank accounts, or any other assets you may own or about the amount of equity you have in your home. You are under absolutely no obligation to answer any questions a debt collector may ask you about:
In order to protect yourself when you are talking to a debt collector, always keep the conversation brief and to the point, even if the debt collector seems very friendly and tries to engage you in small talk. Also, never provide the debt collector with anything more than a very basic explanation of why you have not paid the debt he is trying to collect. (For example, "I am out of work and cannot discuss payments until I am back at work.")
The Risks of Not Following Our Advice
If you do not follow our advice about what to say and what not say when you are talking with a debt collector:
For all of these reasons, if a debt collector tries to initiate a conversation with you or asks you about your personal or work lives, finances, etc., politely end the conversation and hang up the phone. You can do that simply by saying something like, “I am sorry, but I need you to put your question(s) in writing. Goodbye.”
Warning: Beware of debt collectors who act extremely friendly on the phone or who try to get you upset. They are hoping that you will let your guard down and share information about yourself or agree to pay your debt, whether or not you can afford to do so.
This is the end of Chapter 1 of Debt Collection Answers: How to Use Debt Collection Laws to protect Your Rights. To purchase Debt Collection Answers: How to Use Debt collection Laws to Protect Your Rights for immediate download, click here.