How do I stop a Collection Calls by Making a Deal with the Collection Agency?
The collection agency earns a commission by collecting money from you. If they can’t collect, they don’t earn their commission, so they won’t give up easily. Collection agencies only collect debts that are a number of months past due. The original creditor (a bank or a credit card company) could not collect, so they referred it to a collection agency. Because the collection agency did not loan you the money in the first place, they are often willing to accept less than the full amount owing to earn their commission. If you can pay the debt, work out a schedule with the collection agency that you can follow. Remember to call them if you run into problems, keep the repayment going smoothly. If you decided to tackle the collection agency yourself, we have information on dealing with debt that will help evaluate your situation, budgeting to figure out your payment schedule, and the rules a collection agency must follow. If you have questions about your debt, call one of our bankruptcy offi
