13 Secrets Debt Collectors Won’t Tell You
What you need to know about the sneaky way debt collectors do their job.
Don’t ask for a manager
He or she will not help you. You’re better off just calling back and getting another collector on the line. Are you guilty of these money mistakes most millennials make?
Don’t let me threaten to have you arrested, use profanity, or call before 8 a.m. or after 9 p.m.
If I do, report me to your state attorney general’s office (naag.org) and the Federal Trade Commission (ftc.gov). Those are violations of the Fair Debt Collection Practices Act. Next, learn the personal finance tips you were never told (but need to know).
Sources: Fred Williams, who worked as a debt collector for three months to write Fight Back Against Unfair Debt Collection Practices (FT Press, $21.99); Michelle Dunn, former owner of a debt-collection agency and author of The Guide to Getting Paid (Wiley, $24.95); and debt collectors in Florida, New Jersey, and Pennsylvania.