Dealing with Debt Collectors

Under the Federal Fair Debt Collection Practices Act (FDCPA), it is illegal for creditors to utilize threatening, offensive, and intimidating behavior against a debtor. If you have been feeling unsettled by the tactics taken by a debt collector, you have a right to make a formal complaint.

For the most part, talking to debt collectors is never pleasant but they are reasonable. If you are ready to pay off your debt but need to negotiate the terms, we have some tips that will help you.

How to Negotiate with Debt Collectors

For many, debt is not a state that they chose. It can stem from the loss of a job and be unable to find a new one or hospital bills brought on by an accident. Once you are ready to pay off a debt, you must know that you have options.

Talk about garnished wages tends to come up when facing debt. The truth is that they would need to take you to court and file a judgement against you. Instead of letting the collectors set the terms, take control of the situation yourself.

Debt collectors will either try to ask for the full amount, a chunk of it, or ask for a monthly payment. You must figure out what works for you financially. If you are still unemployed, you may have to ask for an extension of payment. You may be able to negotiate your monthly payments as well. You never want to pay more than you can honestly afford least you find yourself in the same predicament.

Some debt collectors may be willing to settle for one lump sum that is less than what you originally owe. For the most part, they want their money as soon as possible and are willing to take less for it all in one go.

Debt Settlement in Sacramento

Some individuals are not comfortable dealing with debt collectors one-on-one. That is where the attorneys at Liviakis Law Firm step in. Our attorneys are experts at negotiating with collectors so that you can get the best deal and can rebuild the financial aspects of your life.

For more information about our services, please contact our office at 916.459.2364.