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Phone calls and other communications from debt collectors can be incredibly frustrating. They will cause some to change numbers and even move just to avoid it.
However the frustration is multiplied when the debt they are calling you about is not yours or is due to a mistake by a creditor. This is because the debt collector is unwilling to acknowledge a lender mistake. They have already spent money purchasing your debt.
If you find yourself in this position you should request validation of the debt. This is done by writing a letter to the debt collector and requesting validation. I suggest you do this by certified mail so you have documentation that they received your letter.
Do not request validation over the phone because it is often ignored. In addition you only have 30 days to request validation of a debt once you are notified.
Furthermore it is becoming more and more common for debt collectors to just sell your account to another collection agency if you request validation. This will result in you getting calls from another debt collector.
Instead I suggest you hire a credit repair firm to dispute and remove the bad credit items that have been posted to your credit report. This way your credit score will not be ruined because of a lender mistake.
If the debt is valid then we suggest you settle it. This is done through a settlement letter to the collector; we suggest you offer 50% of the balance.
Do this because the debt collector has purchased your account for a fraction of the balance. In addition you are showing the debt collector that you are willing to pay if you can agree on a price so they will negotiate on the balance.
You will need to have the collector agree in writing that they will remove the negative item from your report in exchange for your payment. If this is not done then the item will change to a paid collection and it will still be seen as a negative mark on your credit by future lenders.
In sum, I suggest a service to repair you credit from debt collectors.
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