How consumers can have a positive experience with a debt collector

If you are a consumer, struggling with debt, you should know that not only can debt collectors help you navigate a challenging financial situation, but you can also have a positive experience and favorable outcome.

Gone are the days when collectors just got on the phone and demanded full payment. That’s not the way debt collections work. A professionally trained collector listens to consumers, seeks to understand unique situations, and creates an environment where two people can reach a solution.

If you’re looking for tips on turning a call from a collection agency into a positive experience, check out our advice here.

Stay calm when speaking with a debt collector

It is entirely normal to experience a level of stress and some anxiety when speaking to a debt collector. But if you’re going to come to a meaningful resolution for the debt in question, you’ll need to stay calm and level-headed. A professional debt collector will understand that you may initially react negatively to their communication; however, many are trained in ways to calm the situation quickly so you can work together to resolve the matter. One of the best ways to reduce your stress in this matter is to make progress and come up with a solution.

Be prepared when speaking with a debt collector

Another way to ensure that you have a successful outcome with a debt collection professional is to prepare yourself before your conversation. If you’re calling a debt collector back after an initial communication, assemble all the documents needed for that conversation. That could be past invoices and statements, bank account or credit card information or if necessary, any documentation if you’re engaged in a dispute with the business you owe money to.

Do not feel powerless

A reputable debt collection professional will take the time to listen to your situation and gain an understanding. You should not feel powerless in a discussion with a collection professional. You have a say in the matter. You may have a personal situation that is inhibiting your ability to pay back the debt, and a professional debt collector will take this into consideration. Maybe you lost your job, or perhaps you had some unexpected and urgent expenses. Communicate this on the debt collection call because that can be taken into consideration as to how you pay back the debt.

Return the phone call

If you are a consumer receiving calls from a collection agency, either pick up the phone or return the call. Start a dialogue and begin the process of resolving the matter. Many people believe that if they continue to ignore the collection call and ultimately the reason for it, it will somehow mysteriously disappear. That’s just not how it works.

There are many reasons to either pick up the phone or return the call and one of the most important ones is to get the process started which will ultimately reduce your financial stress. Many times people do not like to face difficult conversations but it’s one of the best ways to reduce your anxiety about money.

Be honest about what you can afford

There are times when you will be able to work out a payment arrangement with a debt collector because it just makes sense. What does not make sense is committing to a payment arrangement you cannot afford because, ultimately, that could jeopardize your financial situation. A professional debt collector does not want to worsen your situation. Because if you have limited funds and you pay off one debt, you’re neglecting another. You should feel safe to have an honest conversation with a debt collector and workout a resolution together.

But you must be honest.

Understand debt collectors may have been in your shoes once… or twice

We can tell you with absolute certainty that many debt collection professionals have also experienced challenging situations with money from time to time. Because of this, they can relate to your situation as well as empathize with where you are at in life. When you understand that a professional debt collector is also human, just trying to do their job and have been through a similar situation you are in now, it can turn a negative perception into a positive experience.