This is not to say that you should not communicate with employees from collection agencies when they contact you about a debt, but you should think very carefully about what you say to them.
It funny. One of these companies made a big deal about offering to “help” me fix my credit during the tough times. It was only when I read the bottom of the page on their offer which had the required information about them being a Scottish Debt Collection Agency. Now you know the real truth and why there are so many debt settlement companies. Many of them are debt collectors in sheep’s clothing. There’s a required statement that must be on their documents in order to act on your behalf. Look for it to see what kind of settlement company you are employing.
If you owe a creditor money & are struggling to make repayments, they may try to use a debt collector. For years there has been much confusion over what they are actually entitled to do. Can they forcibly enter your home? Can they break a window to get in? Once they are in your home what can they do?
If you are 60 days late, many creditors will treat you just the same as if you made a payment 30 days late, but some will report it to the credit bureaus. You should find out if your creditor(s) file a report at the 30-, 60-, or 90-day marker.
For bigger debt problems, you may have your wages garnished. Your employer will be legally obligated to take a portion (if not all) of your paycheque and send this amount to your creditor.
It is obviously somewhat difficult to let derogatory marks stand undefended, but the evidence suggests most lenders don’t use those statements in determining creditworthiness. Trying to defend bad credit may actually draw their attention to the area and cause more problems than it would have originally.
First and foremost, they cannot take anything that is classed as essential. These things include clothes, cookers, fridges, your bedding & most of your furniture. They also cannot take anything that you require for work, such as a computer or a phone…etc.