Dealing with Collection Agencies
Dealing with collection agencies is never a fun task, but it is unfortunately a necessary one, especially if you have made a mistake and have made a late payment or ignored payments. Collection agencies are hired hawks that will swoop down on unsuspecting individuals who have failed to make a payment on a loan or credit card due to any number of various reasons. They make no differentiation on who is guilty and who is merely the victim of another’s mistake or responsibility, and only care about getting the person whose name is on the loan or credit card. In addition, if you try to avoid them or refuse to cooperate, they are very quick to fine you and call in the legal system to assist them.
A collection agency is a private company that is hired for a fee that the collection agency charges you by the location or company that you took out a loan from, or used a credit card from, and failed to make a payment to reimburse. In a way, they are digital bounty hunters that track you down by way of the personal information the loan or credit card company gave them to use. Although technically this information is not allowed to be given out, it does not stop the loan or credit card company from releasing this information, as they feel they are in the right. Once your information is released, most collection agencies can track you down in a period of hours, or at most days.
The best method to deal with the collection agency is to remain polite, regardless of whether it is you or the credit card company who is at fault. Each employee of the collection agency is trained to deal with harsh, critical comments and therefore your best first move is to be polite and listen to what they have to say. Avoiding them is not an option as they will quite happily continue to heap on fines that you are required to pay due to the contract you signed in your loan or credit card company. If the loan or credit card company has wrongfully charged you for whatever reason, still keep in mind the collection agency will have placed a lean on your credit against their fee, which will need to be cleared in order to clear your name.
Dealing with collection agencies is not a fun pastime, but it is unfortunately inevitable if a loan or credit is stating you have not been paying back what you owe. Although their purpose may seem unfair, it is nonetheless a necessary task, and they will assist you if you are polite and helpful.