How????
Normally, collection agents are hired to collect on a debt when the person you owe to realizes that you’ve not been making the monthly payments on debts.
The collection agent usually has one thing in mind – keep calling, calling, calling until the account is collected. It can get so bad for the person who owes the money as every time the phone rings they never know if it will be someone asking for money that they simply do not have. If this sounds like you, you may be wondering how you can stop these annoying calls?
Here’s some idea’s:
Howard Hayes
Firstly, you can try to make a deal with the creditor that you will pay-off what you owe them in a way you can afford. This is for people who think they can pay back the entire debt but just can’t make the monthly payments that are being asked. If they are able to make smaller monthly payments over a longer period of time, they could eventually pay back everything they owe. Sometimes, creditors will agree to this.
You could also try to make a lump sum deal with the collection agent themselves. Collection agents are paid by commission based on how much money they get so, if you offer them a lump sum of what you can afford, even if it is not the full amount they might go for it since it means they will get commission right away rather than having to wait many months for it.
File a Consumer Proposal. By offering a Consumer Proposal that is filed through the office of a licenced trustee, you’ll be legally protected from collection agents calling you trying to collect on the accounts. As soon as the collection agent is made aware of the filing of the proposal (usually within 2 to 5 days of filing) they have to cease their efforts in trying to collect.
File personal bankruptcy. This will guarantee that these collection calls are stopped. When you file for personal bankruptcy, all of your unsecured debts are cleared. As with the consumer proposal above, upon filing a bankruptcy, a ‘stay of proceedings’ is sent to the creditors telling them to stop all the actions they have taken against you, including collection calls. A stay of proceedings is federal law under the authority of the Bankruptcy & Insolvency Act, so you will have peace of mind when your phone rings knowing that it is a friendly call and not someone demanding cash.
If you would like to learn more about how to stop collection calls, send me an e-mail or call me at 519-622-3773 and I would be happy to answer any of your questions and review all of your options with you.
Other useful ideas along with an explanation of your rights are explained in more detail in books such as “The Wolf At The Door”, written by expert and previous collection lawyer Mark Silverthorn. Click here for more information on how to obtain your copy.
how's it going me old mucker? - posted on 2 days ago
