If you are receiving collection calls, you likely can place each of them into three categories: the good, the bad, and the really ugly. Regardless of which type they are, they all add stress to your situation. In most cases, collection calls are being received because you do not have the funds to pay your debts right now. It is not that you do not want to pay them, but rather your circumstances have changed and you cannot afford to make a payment.
Collection agents are paid and monitored based on their collection totals and therefore can get very aggressive and will say anything to pressure you in hopes of a payment. If you have collection calls, you need to make a plan to deal with them.
I generally consider the following factors:
- First: How much are they collecting for? Could you just pay it and be done?
- Second: Do you have other debts that need to be dealt with as well? The collection call is just one issue; however, the complete debt situation needs to be considered.
- Third: What is the cause of the collection calls? Has there been a change in your circumstances?
Collections will not just simply go away; you need to deal with them. A consumer proposal or a personal bankruptcy both give you a legal option to deal with you debts so you can get on with your life financial.
Collection calls are not allowed to continue once you make a consumer proposal or file personal bankruptcy. To review your situation and make a plan to deal with your debts, contact us today to arrange a free meeting in my Kitchener Waterloo office.