What Precautions Should be Taken On Getting Debt Collection Call
The moment phone rings and on the opposite end, a voice tells you that the call is for debt collection, a debt which you have either forgotten or much older that you think you don’t have to return it back anymore, its natural that you will shiver for once at least. But how will you make sure that the debt is legitimately collectable. The moment you are getting a call like this you should be asking the person to give his full identification, ask for the company details like the name, location also they are legal debt collectors or not. When you are dealing with a legitimate debt collector, don’t forget to take his phone number, mailing address. Often scammer are involved into money extraction they would be claiming your personal details instead of supplying information.
When you are dealing with legal private debt collection agent be rest assured that you will be receiving a letter first as this is the law set by Federal government. Right after receiving the letter of debt settlement you wont be getting any letter for a week then you will be getting another letter or call. Sending you letter implies giving you a hint that you are not within the observation of debt collection agency and so you can either prepare your case hiring an attorney or go ahead in settling everything down. You should be conducting a verification process whether the debt collection agency is legal and registered.
What to check on your own
There are few things which you need to make sure right after getting the debt settlement call. You need to check your credit report to make sure that the debt is yours or not imposed on wickedly. If its some kind of EMI which you have failed, then make sure you are equipped with the last receipt sent by the creditor company. If you are charged more you will be having every authority to seek help from concerned officials who are in charge of preserving law and peace. Do check whether the debt agency is having name in market as when you are compelled to settle the debt, it may happen during the process you fall a victim to a criminal agency. So its for your own protection, make sure you are dealing with the right agency.
When you are receiving calls from debt collection agencies, its better to contact the creditor company directly only to know if they have hired any such company for extracting money or not.