Contact the collection agency and explain that: you don’t owe the money, or; the information they have is wrong. However, this might create some confusion for you. LaToya Irby is a credit expert and has been covering credit and debt management for The Balance for more than a decade. A debt collection agency is a company that specializes in recovering unpaid debts. Since you’ve done your research, and you realize you do owe this debt, you know the facts and can leverage this to negotiate a payment plan. If you’re on the phone with a debt collector or you’ve received a piece of mail, you might be a little uneasy about owing money to something you aren’t sure about. And in turn, they profit from the actual debt. However, while some debt collectors contact you to collect on actual debts, there are scammers who pose as collection agents to trick you into paying money for debts that have already been paid or canceled or that don't even exist. Perhaps a debt collection agency called you demanding payment or you pulled up your annual free credit report and saw that you have a mark against your credit for an unpaid bill from 9 months ago. A Debt Buyer or a Debt Collector, Need to Send a Pay for Delete Letter? We're reaching out to taxpayers. Searching the phone number of the collection agency can help you figure out who you owe money to and why. "What Information Does a Debt Collector Have To Give Me About the Debt?" An easy way to find out what collection agencies you owe money to is by pulling your credit report. You can dispute some or all of the debt with the collector. If you can’t pay your debt in full, calculate how much you can comfortably pay each month and try to negotiate a settlement and debt payment plan with the debt collector. How to Handle Debt Collector Calls About a Paid Debt, Who's Calling You? Experian. How Debt Collectors Try to Collect Nonexistent Debt. ***Why Anger Arises in The Family (And How To Let It Go), ***5 Ways To Increase The Joy In Your Relationships, What God and the Bible Really Say About Divorce, Progressive Treatment for Concussion and TBI, Light Up Your Life: Seasonal Affective Disorder, ***Enjoying Your Life Versus Simply Existing by Judi Moreo, ***CONQUER YOUR INNER CRITIC & LOSE WEIGHT MORE EASILY, ***YOUR INNER CRITIC Vs. How a Collection Account Affects You. If you’re unsure what to do if an agency contacts you, read about how to deal with debt collectors, or if you find your debts too overwhelming to handle on your own, consider debt relief options. If you haven't kept to the terms of the order, your creditors can take further action to try and get their money back. The search result may contain results from websites where other people have shared information about who called from that number and the nature of the call. Do not initially even acknowledge that the debt it yours until after you are convinced of two truths: you owe the debt and the collection agency is not a scam. All debt collection agencies must comply with the Fair Debt Collection Practices Act (FDCPA). If you pay a percentage of the collection, expect to pay between 25 percent and 60 percent of the collected debt to the collection agency. Do your own detective work. You also can locate a collection agency with just the phone number from your caller ID or voicemail by typing the number into a search engine. To help you out, here are some effective ways of finding out which collection agencies or Debt Collectors you owe. Then get validation about the debt. Be careful about calling debt collectors without first preparing. Dot their I 's and cross their t 's been sent Between you, your and! Your rights bureaus, it might sound confusing initially willing to negotiate payment! 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