Collection Agencies (Part I)
Young Lee
213.675.9300
ChicagoTitleMan@Gmail.com
The Ma Team
What to do if they contact you
Handling Collection Agencies
The first rule of handling collection agencies is: Don’t ignore them!
You have rights under the law, but you have to respond immediately to protect yourself.
Contact the collection agency right away to find out what the problem is. You may not owe the money:
· If you were billed for goods or services you never received.
· If you already paid the amount they want to collect.
· If you returned the things you bought because they were defective, or
· If you are a victim of fraud.
If you don’t owe the money, explain why, and send them a letter with copies of supporting documents, such as receipts, notices of cancellation, or police reports.
If you believe you don’t owe the money, don’t promise to pay them.
What if I cannot afford to pay?
Depending on your situation, you may have a number of options:
· Work directly with the collection agency to pay the debt. Sometimes the collection agency will let you make payments or will accept a lower amount.
· Call our Dispute Settlement Service at 213-974-0825, for free help to negotiate with the collection agency.
· If it’s an old debt, call us for help, or get legal advice. Sometimes you don’t have to pay even a valid debt.
· Tell the collection agency you’re not paying. Keep in mind that they may damage your credit rating and sue you if you refuse to pay a debt you owe.
Handling Collection Agencies
The first rule of handling collection agencies is: Don’t ignore them!
You have rights under the law, but you have to respond immediately to protect yourself.
Contact the collection agency right away to find out what the problem is. You may not owe the money:
· If you were billed for goods or services you never received.
· If you already paid the amount they want to collect.
· If you returned the things you bought because they were defective, or
· If you are a victim of fraud.
If you don’t owe the money, explain why, and send them a letter with copies of supporting documents, such as receipts, notices of cancellation, or police reports.
If you believe you don’t owe the money, don’t promise to pay them.
What if I cannot afford to pay?
Depending on your situation, you may have a number of options:
· Work directly with the collection agency to pay the debt. Sometimes the collection agency will let you make payments or will accept a lower amount.
· Call our Dispute Settlement Service at 213-974-0825, for free help to negotiate with the collection agency.
· If it’s an old debt, call us for help, or get legal advice. Sometimes you don’t have to pay even a valid debt.
· Tell the collection agency you’re not paying. Keep in mind that they may damage your credit rating and sue you if you refuse to pay a debt you owe.
Young Lee
213.675.9300
ChicagoTitleMan@Gmail.com
The Ma Team
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