Re: talking to creditors

Posted by EJOHNSON (12.30.144.123) on June 09, 2003 at 13:49:12:

In Reply to: talking to creditors posted by Marcy on June 08, 2003 at 12:21:02:

well, i am a debt collector. the first thing you need to remember is that the creditors will not know your intentions unless you verbalize them. One thing you need to remember is not all collection centers/agencies record their calls. i myself have worked at 5 locations, as a debt collector, both 1st and 3rd parties, everywhere form a mom and pop shop to large nationwide companies, and never have we recorded conversations. dont get discouraged if they are recording, many of the times companies record more for their own security, and keeping employees from breaking the law. if you are calling to let them know what your intentions are, not break the law yourself (threats do come up quite a bit in the collection world...sometimes play out as well..another reason for them to tape) dont worry about a phone call being recorded. you do have options: you can always fax them a letter advising them of your considering filing bankruptcy and your inability to pay. you also have the option of requesting them not to contact you via the telephone, but make sure you request that in writing. remember: a debt collector can help you in most cases to work out payment arrangements, all you have to do is ask. explain your situation, not in too much detail, because we do hear it all day...but remember that we need to somehow justify everything we do to our boss. it isnt as simple as us waking up in a good mood or a bad mood that day, there is protocol for EVERYTHING. if the recording fo the phone call bothers you that much, at the beginning of the phone conversation make that be your first question. ask them directly, it wont hurt anything. think about your verbally proclaiming bankruptcy before you actually make the announcement. if you plan on filing soon (within the next month) then by all means advise them of this. if you are planning on retaining an attorney, rather than filing pro se, sometime in the near future, but do not know when the actual filing would be, let them know when the attorney will be retained, and give them the attorney's information. again, i cannot stress how important it is to remember that we are not mind readers. if you say you will be filing bankruptcy at the end of june, and july comes around and no bk notice and no court filings are registered...do not get upset if you get a phone call, you do need to keep them informed! remember, they are doing their jobs. their job is to get the client paid. very important. make sure you are completely honest and understand that even if you are not speaking to the collectors, your account is still proceeding down the lines of collection. if you want to file bk, but dont think you will be for another 6 months, it isnt realistic to think that you will just be left alone.
f.y.i. many credit card companies will work with you, explain thoroughly your situation, why late pymts, etc. this may help you if your accounts have not been charged off. these are the types of things you want to do when you first go delinquent to show initiative. it doesnt hurt to ask if they will reage your account. try it, it may help you out. also, try asking for a hardship program of some type that will adjust your payments to help you catch up to speed. again, it doesnt hurt to ask.

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