It’s never any fun to have an account go into collections; especially because when this happens, it’s often because you can’t afford to pay the debt to the creditor, so you can’t pay the debt collector either. It’s normal to feel frustrated and overwhelmed when dealing with a debt collection situation.

So, what do you do to eliminate your debt and stop the collectors from contacting you repeatedly? Here are some tips to negotiate with debt collectors and help lift you from debt.

Know What Your Rights Are

When you’re dealing with debt collection, it’s important that you know what debt collectors can and cannot do - don’t be taken advantage of. For instance, debt collectors are not able to contact you before 8 am or after 9 pm. They also are unable to use profanities, yell at you, or intimidate you. Don’t give in to what they are requesting because they are using intimidation tactics.

Verify the Debt

It happens pretty often that debt collectors will come after you for already paid debt, or incorrect debt amounts, or debt that doesn’t even belong to you. To properly verify the debt, you will need to be proactive. The collector must send you a debt validation notice within 5 days of their contact of you; you then have 30 days to respond and request that they send you verification and proof of your debt. If you don’t receive this proof, or if the information they send is not debt that you agree you owe, you can then send them a cease and desist letter requesting they stop contacting you. If the debt remains on your credit report, contact the credit bureau and ask that it be removed - you will need to provide proof.

Offer a Settlement

If you’ve verified that the debt in question is yours, and have some money that you can put towards settling it, offer a lower amount to the collector in order to settle the account. You may have to do a little negotiating with them in order to reach an amount that is acceptable to you both, but usually, collectors will be willing to work with you just so they can stop the process, receive payment, and close the account. Be firm in your negotiations and don’t allow them to intimidate you; only agree to an amount that you can afford. You don’t want to get yourself into a situation where you can’t meet your agreed-upon payment with the collector.

Ask for a Payment Plan

If you cannot pay everything at once you can ask for a payment plan from the collector. Usually, you can choose from a variety of timelines in which you would need to pay off the debt. Be sure to not overextend yourself - only accept a payment plan that you can afford to pay on time. Don’t be afraid to ask for a lowered amount in this circumstance, also.

Get Everything in Writing

You’d be surprised how often collectors will not send you anything in writing once you’ve reached an agreement on a settlement or payment plan. It’s important that you don’t make any payments or take any action in accordance with what you discussed with them verbally until they send you an account of the agreement in writing. Once you’ve received a written record of the agreement, keep track of all payments and communication you have with the collector in the process of you paying off your debt. This way, in case another collector tries to collect on the same debt or if it’s not updated on your credit report, you’ll have proof that you settled the amount you owe.

Use this helpful resource to free yourself from a life of financial dependence and debt.