Debt collection practices can be intrusive and annoying, even when the laws of the Fair Debt Collection Practices Act are being followed. The temptation is to let the phone ring and never pick it up, but that is the worst thing you can do. Delaying the conversation will only make them step up their efforts, annoy you even more, and get you into further financial trouble.

Here are some tips for keeping your cool when you are dealing with a debt collector:

1. 1Know the Fair Debt Collection Practices Act. Get educated about the Act, and know what the debt collector is allowed to do, and what practices are illegal. This will empower you when you speak with them.
2. 2Ask for verification of the debt in writing. By law, the debt collector must send you, in writing, the name of the creditor, the amount of money you owe, and what you need to do if you believe you do not owe the money.
3. 3If the debt is legitimate, then make honest statements about your finances. If you’re going through difficult financial times, then let them know. If you honestly can’t pay the debt immediately and in full, most debt collectors will work with you.
4. 4Ask the debt collector for a settlement agreement. Understand that most debt collection agencies have purchased the debt at a percentage of the value of the original loan from an original creditor who has already written off the loan as a bad debt. The debt transfer then becomes their legal property. Often the debt collector will settle for less than the original amount if you pay it quickly.
5. 5If the debt collector won’t settle for a lower amount, or if you can’t come up with the pay off cost at once, then ask the debt collector if you can pay down the debt over a period of time.
6. 6Be realistic about your commitment to pay down the debt, and then keep up with your payments. If you promise to pay a certain amount on a certain date, or if you commit to pay on a schedule, don’t miss those payments, because there can be even more trouble down the road.
7. 7Get your plan in writing. Once you make an agreement, ask for a signed letter from the debt collection agency. If your debt is sold to another agency or if your particular debt collector leaves the agency, your written agreement is all you have to prevent another round of even more annoying phone calls or worse harassment.
8. 8Once you’ve paid down your debt, get a receipt. Keep the proof that you took care of your charge.
9. 9Leverage your payment plan. Ask the debt collector not to report the debt to the credit bureaus if you agree to the payment plan and keep to the payment schedule. Some charges like small medical bills may not appear, but most will. By the time your debt got to the level of a debt collection agency, then it likely has already been recorded on your credit report. In case it hasn’t, try to keep it off. If it was reported, then once it’s paid, ask them to remove it or mark it paid in full.
10. 10Keep your cool. Above all else, don’t get angry and don’t get depressed. Remember that with the rising unemployment rate, depletion of stock values, and increased gas and food prices, there are millions today in the same boat as you. Keep your head about you and if you need help, don’t be afraid to ask for it.

If you feel that a debt collector has crossed the line with you into illegal practices, you are within your rights to receive damages. Lemberg & Associates attorneys are practiced in fair debt collection practices law, and are ready to stand beside you to help stop harassing debt collection practices.