Working with Debt Collectors
After your accounts reach the charge-off stage, they are usually sold to third party debt collectors. However, some creditors never sell accounts and instead hire third party collectors to work on their behalf.
These companies buy debt accounts for pennies on the dollar and use VERY aggressive tactics to collect payment. We will cover some of their most commonly used tactics but just keep in mind that it is NOT personal. These people are paid on commissions are need to do anything they can to get you to pay, don’t let them get you emotional or you might make a mistake.
Be sure to follow this section carefully and read over it a couple times before attempting to deal with debt collectors.
