Tips to get rid of incorrect entries in your credit report
Due to the bad financial condition, your debts have been sold to the collection agency and now you are in a position to deal with all accumulated debts. The collection agencies always have the tendency to threaten or frighten the debtors because they find these strategies helpful. However, if you prove yourself to be a debtor interested in paying the debts, you can negotiate with them to arrive at a fair repayment policy which is beneficial for both the sides.
* Never ignore the calls from collection agencies. The agencies have the tendency to call the debtors very often to collect the debts. They may contact your friends, relatives, and colleagues to get your contact information. However, they cannot discuss about your debts with others. When the collection agent has your phone number, he will call you frequently. Ignoring the calls will only create a bad impression about you and you can never stop them from calling by ignoring the calls.
* When you attend the call from debt collectors, be cool and start with a affirmative tone. Before starting the conversation about debts, tell them that you are extremely willing to pay the debts and you want a genuine behavior from the agent. If the other party starts giving explanations without agreeing to what you said, once again repeat the statement and get assurance that you will not be threatened.
* The next step is to get information about the agent who called you. If the caller does not give information and threatens you, don’t give up and don’t continue without getting the information. You have to save these information in a file and keep the record with you.
* It is better to record the conversation with the collection agency, but this cannot be done without getting permission. The agency will tell you that your calls are recorded for official purposes. In turn, you can tell the agent that you are also recording the call. If the agent continues the conversation, you can record the conversation. Agents who called with humiliating intent will hang up the call when you say you are going to record the conversation.
* You have to ask for the proof that you owe to the collection agency. Within five days of contacting you, the collection agency has to send the proof that it has legal authority to collect your debts. If you have disputes, you can send a written validation request within 30 days, failing which means that you are accepting the debts. When you send the letter, mail it with return receipt, and use proper words so that you can stay away from zombie debts.
* After receiving your debt validation letter, the agency must send proof that you owe the debt. Every debt has statute limitations after which the debt becomes invalid. You need not pay for the debts after the statute limitations period. If you are sure that you owe the debt, talk to the agency about repayment plan that you can afford. Then, get the written payment agreement after which you can tell them not to contact you.
