Can You Deal With Creditors And Debt Collectors Directly?

If you’re being bothered constantly by debt collectors with phone calls and letters, the good news is there are numerous ways to put an end to debt collector calls and efforts to garnish your wages. In this article, we’ll cover some of the ways you can directly deal with collection agencies and creditors to reduce harm to your credit, stop bank levies, and prevent wage garnishments, allowing you to take complete control of your financial future.

DIY Debt Settlement Steps

Step One

First, don’t ignore your creditors—they won’t go away just because you don’t respond to them. Creditors and debt collectors will use every tool at their disposal to collect payment on your debts. Sometimes this includes seeking a judgment to gain the ability to levy your bank account or garnish your wages.

Step Two

Get your creditor to verify the debt’s validity in writing, including who the original creditor was, the original unpaid debt balance, and the debt sale date if sold to a collection agency.

Step Three

Don’t give creditors your details over the phone. Always get everything in writing, gathering as much evidence as possible in case the collection agency tries to take legal action against you.

Step Four

If the creditor does indeed have a valid debt claim against you, there’s still a possibility to get debt relief and settle your debt for far less than you owe. If a debt collection agency holds your debt, remember they buy these debts at deep discounts, so there’s always room for negotiation.

Step Five

If your efforts aren’t making progress toward relief of your debt, seek the help of a debt relief company like Alleviate Financial to handle your creditors for you. A debt relief company staffs professional debt negotiators experienced in dealing with creditors daily, maximizing your chances of getting your debts reduced significantly.

What Can You Say To Creditors To Get Debt Relief?

If creditors are endlessly harassing you, what can you do to get relief from your debt to minimize the impact on your credit?

The first rule of DIY debt relief is never talking about your debt with a debt collector over the phone. Debt collectors are professional negotiators that will use whatever tactics they can to get the maximum payment from you. At the end of the day, debt collectors are salespeople who want the biggest “sale” they can get from you, regardless of your financial circumstances.

If you happen to get on the phone with a debt collector, it’s best to simply tell them to send you the details regarding the debt in writing as required by the Fair Credit Reporting Act (FCRA).

The FCRA gives you the legal right to get all debt claims in writing from creditors, so it’s wise always to exercise this right to the fullest extent possible.

Getting debt claims in writing has the added benefit of giving you more time to seek professional help from a debt relief firm like Alleviate Financial. But, most importantly, it provides you with the required legal evidence to verify the debt is valid. Sometimes this step alone can get you debt relief if the company doesn’t respond within the legally required time.

Sometimes sending a cease and desist letter is effective. This letter can end collection activities, but the debt won’t be technically canceled, so it may still hurt your credit if left unresolved.

Is It Possible For Creditors To See Your Bank Balance?

The fact is, if a creditor has access to your social security number and bank account number, it’s sometimes possible for them to use your bank’s automated phone system to discover your bank balance. It’s crucial to ensure your creditors don’t get to this point. Otherwise, there’s a risk of losing your hard-earned money and the ability to pay essential bills like a house or car payment. Taking steps to get debt relief sooner than later is one way to help keep this from happening.

Should I Get Help From A Debt Relief Company?

If you’re unsuccessful in pursuing a debt settlement on your own, it’s still possible to get help from a debt relief company to alleviate your financial stress. Alleviate Financial is a debt relief company with a team of seasoned experts who negotiate every day on behalf of clients who need help dealing with creditors for settling their debts.

What Traits Do Legitimate Debt Relief Companies Have?

The good news is, there are legitimate debt relief companies who strive daily to help their clients. That said, as with any business deal, it’s always wise to do your research on the debt relief companies you’re considering. Debt relief companies you can trust will have proven reputations spanning a long history. Also, these companies won’t ask for large up-front payments to start getting debt relief.

Where Can You Research Debt Relief Companies?

Reputable debt relief companies will almost always be accredited by the Better Business Bureau (BBB) and have a high rating with few complaints on their profile. The BBB uses a business rating scale ranging from A to F, so find debt relief companies with an A or higher rating to be sure you’ll get a team of experts in debt relief on your side.

The team of debt experts at Alleviate Financial genuinely cares about our clients, and it shows. That’s why Alleviate Financial is a debt relief company that has an A-rating with the BBB.  Call our team today for a free consultation and change course to a brighter financial future without collection calls!