Keep debt collectors at bay

No one wants to generate so much debt that they get sent to collections but sometimes it happens. Business might slow down (but the bills sure don’t) or a surprise expense or unexpected emergency might force you to pay more than you can handle.

Debt collectors are like the hounds of hell, they’ll pursue you relentlessly. (Note to my friends who are debt collectors: I’m not talking about you, of course!).

Ultimately, debt collectors want the money that they are collecting (duh) and they will call and call and call and call until you pay.

While that’s their primary goal, there is something you can do to stem the tide of annoying, high pressure calls: Create a plan and work with the collection agency. If they can’t get immediate payment from you, they will be happy if you have a plan that you follow through on. Here’s what to do:

1. Revisit your budget and find money from somewhere. C’mon, we all know you can. Maybe it means fewer cable channels or maybe less eating out. It’s temporary.
2. Make your debt payment a priority part of your bills each month. Buy mom something a little smaller for Mother’s Day. Don’t splurge on another underwater castle for your goldfish.
3. Write your plan down and break down the goals into daily effort. It can be small but it needs to be consistent and manageable.
4. Don’t bother with excuses. Debt collectors have heard all the reasons – legitimate and hilariously elaborate. They are immune to your reasons for not paying and only care about one thing: Your payment (or, your plan to pay).
5. Communicate your plan to the collections agent. Ask for advice. They may not have any advice to give but they’ll appreciate being asked and that could turn the call from an aggressive, adversarial call into something a little more palatable.
6. Also, look for ways to pay off your debt and, if those doors close, communicate those to your debt collector also. They want to hear that you’re trying to solve the situation and it can be refreshing since 99% of the calls they make are to people who don’t bother trying.
7. Stick to your plan. Your plan won’t be worth anything to the debt collector if you fail to follow through. So show up and pay on time. In fact, pay a little extra to show your good intention.

Now, I realize that the above list doesn’t help when there’s zero money to pay. That’s an entire blog topic on its own.

Jessica Routier, IAC-EZ

Jessica Routier

Jessica wants to talk to you! She is who coordinates the contests, travels to all the conferences, and interfaces on a fun level with customers on a daily basis in order to bring our users together as a community.

Jessica has a B.Admin and an MBA. Her background in business, along with a diverse skill-set (including a diploma in Medical Transportation, retail experience, and experience as a paralegal) make her a valued, highly flexible team member.

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