Realistically, at one or more points in life some of us will have incurred a troublesome debt that we’ve had trouble paying off. One of the most trying parts of the process that starts when you begin to strategize and plan your way out of an existing debt, particularly if it has lasted for a while, may be theÂ encounters with collections agencies and their representatives.
If a collections agency calls, keep a cool head. The installation of anxiety and fear are powerful tools that can make your situation feel far worse than it may actually be. Many collections agencies will likely be rather insistent about achieving theirÂ goal, often to the point of threatening legal action against you (which they actually aren’t allowed to do outright: the original creditor, however, could decide to initiateÂ action.)
In light of this, is wise to deal with these matters directly rather than being afraid to go near your phone. When you’re dealing with collections, be honest and clear about your situation: good intentions go a long way toward reaching an amicable solution and staving off anxieties or harsh conduct on either end of the line. Agents are simply doing the job they were contracted to do: they’re human beings, too. If you feel as though you can prove that you are being unlawfully pursued by a collections agency, you canÂ send a letter to that agency’s head office, or have a legal professional intervene on your behalf.Â Agencies are regulated provincially, and referring to these regulations can be a big help.
If your debts are indeed legitimate, there are ways to work through them and rebuild your financial health. Credit counselling is an oft-cited option for those who need to tackle outstanding debts that have reached default status. TheÂ majority of ProgressaÂ customers use our serviceÂ to help pay an overdue bill or an item that has gone to collections. In these cases, we pay the bill or debt directly: this helps removeÂ the psychological pressure that many collections agencies attempt to generate, allowing you to focus on starting the process of rebuilding your credit and maintaining a stable financial plan.