Have you ever wondered how to stop credit card collection calls and put an end to the relentless attempts of debt collectors to contact you? In 2021, the Consumer Financial Protection Bureau (CFPB) recorded a total of 121,700 complaints related to debt collectors.
In this blog, we will go over practical methods to stop harassing calls by learning the ins and outs of credit card debt negotiation and understanding your rights when a debt collector goes beyond the law.
Halting Collection Calls: Effective Strategies
It may be stressful to deal with debt collection agencies, but here are some effective ways to stop collection calls entirely:
Confirm the Debt Ownership
Make sure to verify if the debt belongs to you before ending the calls. While speaking with a debt collector on the phone, address the following:
- Collect details about the debt: Find out who the original creditor was, how and when the debt was acquired, and what the current balance is — along with a detailed explanation of all the fees and interest
- Identify the caller: Note the name, address, and phone number of the company, along with the agent
- Request a written confirmation of the debt from the collector: They have five days to respond with a letter verifying the debt information
- Choose to communicate only in writing: Tell the collector to stop reaching out to you through any other channel but mail.
After making your first contact with the collector, you have 30 days to confirm that the debt is legitimate. Examining your financial documents, such as bank statements, receipts, and past bills, will help you achieve this. You can also verify the origin of your debt by analyzing your free credit reports.
Read More : Statute of Limitations For Credit Card Debt
Credit Card Debt Negotiation Strategies
If the debt is really yours and you could face legal action as a result, the next wise move is to think about negotiating. Consider the following strategies to navigate the process:
- Save money: Begin by gathering up a sum of money. Try to save between forty and fifty percent of the total amount of debt. If the creditor threatens legal action, be prepared to submit this amount as a lump-sum, one-time payment. Avoid monthly installments, as this could put you at risk of default and possible legal action.
- Enter into a contract with the debt collector: Hold off on contacting them until you can give them a fair amount of the money due. Keep in mind that debt collectors purchase your debt for less money, so start with a 20% offer.
- Get a written agreement: Upon reaching a settlement agreement, make sure you get a formal declaration stating that your offer will be accepted as ‘payment in full’.
- Send a money order: This is to ensure the security of payment, thereby eliminating the need to provide bank details. When you do this, get a proof of payment receipt by asking the USPS for a return receipt in order to guarantee a secure transaction.
Read More : How to Negotiate Credit Card Debt
Issuing a Cease-and-Desist Notice
The FDCPA gives you the ability to stop receiving calls from debt collectors by sending a formal cease-and-desist letter.
When mailing the letter, keep the following in mind:
- Make use of one of the CFPB templates
- Send the letter with certified mail, and make sure you get a receipt back
- Include any documentation you have that refutes the debt’s legitimacy with the letter
- Ensure you have a copy of the letter for your records
A cease-and-desist letter can end contact, but it will not stop a debt collector from filing a lawsuit against you. After the letter is sent, keep an eye out for any correspondence that you receive from the debt collector, as it can convey information about a potential lawsuit.
Consider Legal Assistance.
If you are wondering, “How do I get debt collectors to stop calling?” it might be a good idea to consult a professional, such as a lawyer, to help resolve the matter if it gets out of hand, particularly if the debt collector files a lawsuit. Try to hire a lawyer who has handled debt cases before. By hiring an attorney, you can avoid being directly involved in negotiations, as they will handle all correspondence with the debt collector on your behalf.
Putting an End to Collection Calls in Your Workplace.
When debt collectors contact your place of employment, you have the power to end those calls by telling them that they are not permitted to contact you at work.
However, the original lender—such as a bank, vehicle dealership, or credit card company—may contact you at work, even though they are not considered debt collectors. They are not permitted to discuss your debt with anybody else.
Notifying the debt collector in writing is the most efficient approach to letting them know that making calls at your place of employment is not permitted. After receiving your letter, if they continue to contact your employer, you have grounds to file a lawsuit against them, and they may be subject to sanctions.
Why Stop Debt Collectors’ Calls?
Excessive calling and intimidation are common strategies used by debt collectors. Due to this, people are more prone to giving in to pressure or coercion when it comes to making payments, and they could unintentionally forget about their rights.
Conversing with debt collectors may make matters worse for you. If you promise to repay the money but do not follow through, you may accidentally prolong the statute of limitations, giving the collector more time to take legal action against you.
By using your legal right to stop receiving these calls, you may defuse some of the stress and take some time to consider whether the debt is legitimate. If necessary, you can also make use of credit counseling services.
Read More : Best Ways to Consolidate Credit Card Debt
Could You Ignore Debt Collectors’ Calls?
On the other hand, ignoring debt collectors may prove detrimental. Matters may get worse if you don’t answer the phone or read letters concerning the debt.
Ignoring correspondence with a debt collector could result in increased interest being or even a lawsuit. If you disregard a debt collector’s court summons, you could lose a credit card lawsuit by default, which may then result in wage garnishment.
Thus, when a debt collector calls, the best course of action is to learn as much as you can about the debt without giving over personal information or admitting that it is yours.
How Often and When Can Debt Collectors Contact You?
Here are some of the guidelines that debt collectors are required to adhere to when reaching out to you:
- In general, debt collectors are not allowed to contact you before 8 am or after 9 pm.
- Any directions you give debt collectors about when and where you do not want to be approached must be followed. For instance, they are not allowed to phone you at work if you tell them that you are unable to take calls there.
- It is against the law for debt collectors to call you more than seven times in seven days regarding a single debt or call you again within seven days of a conversation regarding that same debt.
What to Do If a Debt Collector Breaks the Law
At the federal level, the FDCPA protects customers against overly aggressive debt collection tactics used by debt collectors and agencies. Depending on what you want to accomplish, you can take various actions if a debt collector breaks federal law. These actions include suing the debt collector, filing a government agency report on the collector, and utilizing the offenses as a leverage point in the debt settlement process.
Conclusion
To sum up, a strategic approach is pivotal in understanding how to get debt collectors to stop calling. You can reclaim control and reduce the stress brought on by persistent calls by being aware of your rights and using practical tactics, including issuing cease-and-desist letters, negotiating when necessary, and getting legal or professional aid.
The extensive network of lenders and service providers at Epic Loans can provide valuable assistance in dealing with debt collection through a range of financial solutions and expertise. Schedule a complimentary consultation for Epic Loans today to explore credit card debt consolidation loan plans tailored to your specific situation.
Frequently Asked Questions
It is against the law for debt collectors to harass you, your family, or your friends. You can send a cease-and-desist or debt verification letter to restrict this communication.
If paying the total amount at once is not feasible, you have the option to request the collection agency to establish a payment plan or schedule credit card payments. Negotiations will be necessary to determine the number of installments needed to settle the debt.
If you avoid talking to a debt collector, they could try to collect the money by other means. This can entail filing a lawsuit against you or giving a credit reporting organization negative information.
