Norwich bankruptcy lawyers’ tips for dealing with collection calls

Are you tired of feeling stressed each time the phone rings, knowing a collection company is on the other end? If so, you’re among millions of people facing the same dilemma. To get collection companies to stop calling, you need a viable plan, one that helps you determine priorities and gets you out of debt. As an example, if you have multiple creditors, you need to decide which one is most important.

After prioritizing all your financial obligations, you need to consider which creditors you can afford to pay based on income. As part of that, you need to determine the amount you can pay and the schedule on which you can make payments. After devising an acceptable plan, reach out to your creditors to see if they are in agreement. Remember, creditors want to recoup money, so most are willing to accept smaller payments than no payments at all.

When receiving phone calls from collection companies, you want to ask for the name, address, and telephone number of the company they represent. You should also request the name of the caller, as well as the amount of debt owed. Make sure during the conversation that you never make a promise to pay. Instead, advise the collection company that you are reviewing your budget and will get back to them after determining the amount you can afford.

Seeking Legal Advice from a Norwich Bankruptcy Lawyer

If you need assistance in creating the best plan, you can always rely on the services of a reputable Norwich bankruptcy lawyer. Together, we will review your income versus debt, determine who your creditors are, and then come up with a repayment plan that everyone accepts.

As our team would tell you, the goal of all collection companies is to get you to commit to paying a specific amount of money. Even though laws prohibit collectors from doing or saying certain things, all too often these companies use fear tactics in trying to get you to comply.

Although you may be fearful or even angry, it is important that you maintain composure when talking to collection companies. Politely state the information mentioned and then hang up. Depending on the collection company, you may receive another phone call almost immediately, which you can ignore. However, if a representative calls a few days later, you’ll have a plan.

Norwich bankruptcy attorney, Laura Harris-Courage, will tell you to never make financial decisions while under pressure. By doing so, you may ultimately take money for one debt to pay another, which does nothing to help.

To create a plan for dealing with collection companies, for help getting through the process, or to get out of debt completely by filing bankruptcy, you need to talk to an experienced and respected bankruptcy attorney in Norwich. We want to be in your corner providing guidance and support along the way.

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