How to Stop Collection Calls Pay Minimum Monthly Payment ask for Alternatives Collection Agents

When being late in payments, you are likely to get a call from a collection agent asking you to pay off your debt as soon as possible. Collection agents are trained to be extremely persistent, sometimes even aggressive, if they have to. Luckily, there are some ways according to which you can stop collection calls.

How to stop collection calls

1. Try to pay minimum monthly payment on time

While it is always best to pay more than the regular monthly payment, as that way you manage to decrease not only the interest, but also the balance, if that is not possible due to financial problems, try at least to pay your minimum monthly payment on time. If for some reason you have to be a little late with your minimum monthly payment, try not to exceed 2 days.

2. Try to keep up with your other payments

If  you have many credit cards or loans, and at some point  you are not able to pay your minimum monthly payment in one credit card or one loan, try at least to pay your other credit cards or loans on time. If the collection agent sees that generally speaking you are a good customer, who usually keeps up with his payments, he will be more polite and understanding when he calls you, than he would be if he saw that  you are usually late with all your credit card and loan payments.

3. Give a specific day for your payments

Being vague with a collection agent, is only going to result in more phone calls from him. If you want collection calls to stop, what you have to do is give a specific day for your payments, and of course, follow through with your promise. While you can pay earlier than the date agreed, you cannot pay later than the date agreed. For example, if you have agreed to pay on Tuesday morning, you can pay on Monday evening, but you cannot pay on Wednesday morning.

4. Ask for alternatives

Many collection agents will be quick to point out alternatives regarding payments if they realise that  you need them. However, if you are too persistent on doing things in  your own way, (which is not in the bank’s best interest),  trying to ensure that they will get the money, some collection agents may focus on a specific way themselves. In order to avoid nasty fights over the phone, which will only make a bad situation worse, what you have to do is show willingness to negotiate. Explain your financial situation in detail and ask for alternatives in advance. Consider them all, weigh carefully the pros and cons and finally decide on the one which seems the best alternative for you.

5. Provide proof

Not all collection agents will be impressed hearing about the financial hardships that you encounter. Many of them will ask for proof, and in that case you must have all the necessary documentation ready, to be able to prove that you have valid reasons for being late with your payments.If you are fired and unemployed, got sick or injured and are not able to work, then you must be in a position to prove it  on paper. Contact the Customer Service Department to get detailed info on the documentation you will need to provide for each case.

By following the above tips, you will be able to deal with collection agents in the best way possible from the get go. If you manage to sort things out from the beginning, there will be no reason for them to give you a second call.