A collection agency has contacted you about outstanding debt. Unfortunately, you can\u2019t make the required payment. What can you do?<\/p>\n
The first option is to negotiate a repayment plan. But to maximize your chances of success, make sure you\u2019re well prepared.<\/p>\n
Most importantly, read up on the debt collection industry.<\/p>\n
In order to prevent abuse and protect consumers, collection agencies must comply with many rules. It\u2019s a good idea to know the rules that agencies must respect.<\/p>\n
You should also make sure to understand your rights. We\u2019ve all heard stories of debtors being harassed by collection agencies. These cases are rare, but it could happen to you. If you know your rights, you\u2019ll know how to react to avoid becoming a victim<\/p>\n
Finding all the information on this subject can be difficult. Fortunately for you, my colleague Pascal\u00a0Gagnon summarized this information in a previous blog entry.<\/p>\n