Harris-Courage & Grady, PLLC
What should I do if a collection company calls?
Whether or not you are filing for bankruptcy in Syracuse, it’s best to have a plan for how you intend to deal with your creditors and debt before the collection companies start calling.
Developing a Plan
- Determine your priorities. For example, if you could only pay one creditor, which one would it be? The car loan or the rent or mortgage payment? Prioritize your obligations.
- Review your income to determine which creditors you can afford to pay and when you can pay them.
- Once the plan is in place, you can simply inform the particular creditor what your plan for repayment will be.
Make a plan to deal with creditors.
If you are feeling overwhelmed, we are here to help. We can help you create a repayment plan or assist you with bankruptcy if your budget shows an inability to repay these creditors.
If you have not yet developed a plan, then ask the calling creditor to provide you with the following company information in writing:
- telephone number
- name of the person who is calling
- total amount of the debt
- amount they are seeking for a payment.
DO NOT MAKE ANY PROMISES TO PAY THEM. Tell them that you will review your budget (see the steps above) and make a decision on what you can afford to pay.
Collection companies obviously want you to pay them and their method is to make you afraid and/or angry. They also want you to commit to making a certain payment. If they are making you afraid or angry or trying to pressure you into making a payment, just politely tell them you are going to hang up and then do it.
They will very likely call again and when they do, you will have a plan.
You want to make decisions about your budget when you are not under pressure and you can look at your overall financial situation. You do not want to rob from your car payment to pay a collections creditor.
We would be happy to help you develop your plan to deal with your creditors or determine if bankruptcy is a viable option. Call us today to schedule an appointment.