Those who have ever fallen upon hard financial times know that being delinquent on your bills can be very trying. The calls from the bill collectors begin as a stranger’s voice on the other end of the line lectures you about your obligations. You want to pay your bills, but for whatever reason the money isn’t there. Maybe you just got in over your head, maybe you have lost your job, or perhaps the global financial crisis is just hitting you hard. Whatever the reason may be, you deserve to be treated with dignity and respect those who are responsible to collect payment are obligated to abide by certain standards of conduct. Knowing how to deal with debt collectors starts with understanding what your rights are, and then formulating a comprehensive plan to get out of debt.

The Office of Fair Trading outlines specific debt collection guidelines that collectors must adhere to when they contact you. First and foremost they are not allowed to put pressure on you that could be deemed oppressive; this means they cannot contact you at all hours of the night or at rates so frequent that it becomes harassing. They are not allowed to mislead you by misrepresenting their authority, or falsely claim that a judgment has been rendered against you. . They have no right to demand that you sell your property or borrow to repay the debt. They may not ask you to pay unreasonably large installments or add additional charges if you are unable to do so. If you find yourself receiving these types of harassing phone calls remember you have the power to simply hang up the phone.

Getting back on your feet may seem impossible, but it can be done if you take the appropriate steps toward regaining financial independence. Before you do anything consider going to a financial counselor. There are many organizations that offer financial counseling some will charge you a fee for their services. The Consumer Credit Counseling Service is a non profit organization that offers free advice in regards to debt. They will assess your financial situation either on line or via the telephone, to determine what course of action needs to be taken in your individual situation. They understand your first obligation must be your essential living expenses such as rent, food etc. After all that is taken into account they will help to determine how much you can afford to pay. They will then contact your creditors on your behalf, and petition them to freeze the interest and late payments. In certain instances they may ask creditors to reduce the debt, and then set up a reasonable payment plan over a longer period of time.

If you choose to resolve your credit situation without the aid of an outside organization these same principles can be applied. Make sure that you do your homework, know what you are able to pay and be confident. Debt collectors are essentially trained in physiological warfare so it is imperative that you not exhibit anger or intimidation. Remember these agencies make a percentage off or the debt you owe, so it is in their interest to resolve the issue. Negotiate with them and let them know that you are committed to resolving the matter. When they see that you mean business they will be less inclined to resort to dissolute antics and work with you to get the issue behind you.

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