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What to Do if You Fall Behind on Personal Loans and Start Getting Collection Calls


When you fall behind on payments to your creditors or utility companies, you start getting collection calls. These calls are made by a third party known as a collection agency. The creditor or utility company hires the collection agents to get back the money they are owed. Unfortunately, if you do not have the money to pay your bills, collection calls can be embarrassing and very upsetting. Here’s how to deal with them:

1) Don’t let it get to the point where you start getting collection calls. If you owe money on payday loans, personal loans, and other debts, make every effort to pay your bills on time. If you know you are going to be late with a payment, contact the company you owe money to and work out an alternative payment schedule. The best way to deal with collection calls is not to get them in the first place.

2) Take good notes of when collection agents call and the details of every call. If you do get collection calls, take notes. Get the name of the collection agency, representative, and note the date and time of the call. Note anything that is said and anything you agree to on a piece of paper. This way, if there is something wrong you have the details of each call.

3) Deal directly with the company where possible, rather than the collection agency. If possible, even after you get collection agency calls, try to deal directly with the company you owe money to. This will usually get the problem resolved fastest.

4) Refuse to put up with abuse. While many collection professionals are very professional about their job, some do use abusive language or make inappropriate comments. If this happens, hang up at once. Immediately call the company that hired the agency and explain what has happened. If you have been taking notes, you can give times, dates, and names. Explain that you are no longer willing to work with that collection agency. Lodge a compliant with the collection agency and the company you owe money to.