How To Stop Debt Collection Calls And Negotiate Debts By Mail

By Author: Nicholas Hunt
Total Articles: 434
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Debt collection calls cause huge amounts of stress for those struggling with finances. The phone calls from morning till night make debtors avoid their phone altogether. Debt collectors never cease working toward getting all the money owed.

Debtors in this situation should know that they can ease the stress and anxiety caused by debt collection calls. According to federal debt collection laws, debtors have the right to stop debt collection phone calls and negotiate debt through the mail. The guidelines are easy to follow and bring almost immediate results.

All requests to stop debt collection calls must be sent through the mail. Write a professional letter to the debt collection agency telling them to stop calling and your family members at home or at work. Cite the debt collection laws and ask them to communicate through the US Postal service only. In order to have proof of the request, save a copy of it and send the letter by certified mail.

After the letter has been sent, it is time to negotiate your debt. The debt collectors will not stop trying to collect just because they can no longer telephone ...
... you.

Before making plans for payment amounts, negotiate the total debt amount. This is the time to find out if you can get a settlement amount that the debt holder will be comfortable with. Many times you can satisfy the debt by paying just sixty to seventy percent of the entire debt. If you can pay the amount immediately in one payment, the collection agency will be more apt to make such a deal.

If you cannot make one payment that satisfies the entire debt, negotiate a payment plan that works for you and the collection agency. Write and mail a letter suggesting a payment amount you are able to pay every month. Include the date you can begin making payments. Do not lie in this letter and claim you have no assets or no income. Debt collection agencies have access to that information.

With the debt negotiation letter, it is a good idea to include the first payment. This demonstrates your willingness to pay off the debt. Whether you pay with a money order or a check is your choice. Paying by personal check gives you an effective receipt - the cancelled check - of the collection agency accepting your payment.

If the collection agency contacts you to say that the debt payment plan is not acceptable, continue negotiating through the mail. Keep copies of everything and always mail with certified mail. If they do accept the plan for debt repayment, send the next payment on time. If they do not answer in any way, check to see if your last check was cashed. If it was, send another before the date you stated you would pay each month.

Reducing the stress of debt collection phone calls is easy when you can eliminate them altogether. Negotiate your debt through the mail, and then pay it off, and get rid of all debt related stress forever.

About the author: Nicholas writes for debtor advice site http://www.debtnation.co.uk/ and you can read more debt survival strategies at http://www.debtnation.co.uk/debt-survival.html