When a debt goes into collections, it becomes the debt collector’s responsibility to get you to pay. This means they will do everything in their power to push you to make a payment. Typically, this involves constant phone calls and letters.
But it seems like some individuals get hounded more aggressively than others. If you feel like the debt collector chasing you down is a little more persistent than others, there may be a reason.
Debt Collection and Your Credit Score
If you have a low credit score, this typically implies that you don’t have the best experience with borrowing money. If your debt collector knows that you aren’t trusted to pay back your debt, they may harass you more frequently to try and get money from you.
Your debt collector uses your credit score to give you what they call a “collection score.” Your collection score will allow the collectors to determine where you fall on their list of debts to collect. The higher your collection score, the more the collector will contact you.
Bankruptcy and Debt Collection
If you’re not making payments on your debt or answering messages from a debt collector, they are likely to believe you’re considering filing for bankruptcy. Once you decide to file for bankruptcy, your creditors will miss out on their payment.
Collectors may be more aggressive with you if they believe you’re close to filing for bankruptcy. Their frequent contact is a way to get you to make a payment on the debt before they lose their chance for good.
If you’re struggling to pay down a debt that has been sent to collections, bankruptcy may be the best option for you. As soon as you file bankruptcy, debt collectors will need to stop contacting or harassing you. On top of that, you may be able to discharge your debt to take back control of your finances.
Contact Michael F. Kanzer and Associates, P.C. if you are considering filing for bankruptcy. We’ve helped people all over Brooklyn find the relief they need from debt collectors and unmanageable debt payments through bankruptcy.