Dealing with Collection Agencies
:: Debt Collection Agency, Why Debt Collectors Bother You

How often do get home, your phone rings and it is a debt collector on the line asking you to pay off your debt? Debt collection agencies are hired by the companies you owe money to. Their jobs is to collect the debt.

A Collection agency works in one of two ways:

Sometimes the creditor will forwards your debt to a collection agency and agrees to pay the collection agency a percentage of the amount collected.

Or...

The creditor will sells the rights to collect on your debt to the collection agency and the collection agency gets to keep whatever it collects from you.

When you decide to talk to a collection agency, you must remember that you are dealing with a professional debt collector.

Do not let the collection agency talk you into paying more than you are able to pay.

 

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