How Can I Negotiate With a Collector Or a Collection Agency?
Negotiating with collectors is easier than imagined as long as you stick with some principles. These principles are a mix of common sense and the law. Arm yourself with these principles and you will always outsmart any representative on the other side of the phone seeking to get you to pay your debt. First thing is that agencies that buy debts are always satisfied if they can make a little profit on the amount they bought the debt in the first place. To them, $200 profit is reasonable. The only information that may not be available to you is exactly how much the original creditor sold the debt to the buyer, but in some cases, it can be as low as 10 percent of the original amount you owe. Always be in charge of the communication between you and the agency representative. But, how do you do this? Simple. You take charge with the provision of the law and a good measure of common sense. The truth is that the popular ways collectors try to control you are by using harsh and crude methods, u
