By: kjmena

We all know how annoying and relentless creditors can be when they are trying to settle a debt. They will call your personal cell phone, your house and even your job to simply get you on the line to start making payments. In some cases, they will reach out to your relatives or demand you go to court in hopes of forcing to pay back your debts.

Debt Collectors

These pesky little people are out to get you in some form or another. They will go through whatever person, phone number or address they have on file to reach you and they will not stop. That’s because debt collections is a lucrative business.

Debt collectors are paid on commission. This means that when they don’t receive any payment from you they don’t make any money and are working for free. So debt collectors are inclined to collect the biggest debt possible because this will make them more money. So the more you ignore them, the higher your debt, the more potential money they have of making from you.

They Will Find You

Debt collectors have all of your information on file and if they don’t they will be able to find it. With the advances in today’s technology you can run but you can’t hide as debt collectors can track you down even if you change your address or phone number.

Although, you legally have the right to ignore debt collectors you shouldn’t. By ignoring them it can make them more persistent and more determined to reach you. They are paid on commission, so their goal is to collect some form of payment from you, no matter the amount or they route they took to get it from you.

Your Credit Score Is Getting Worse

When your debt goes to a collection agency, it is never a good sign. This means that you have seriously defaulted on your debts. Also when your debt is sent to a debt collector your credit takes a huge hit.

Your score falls by a significant amount of points. In addition, by ignoring the debt collectors your already faltering score could possibly continue to drop. Not to mention, the collectors will report this score on your credit reports, even if you tried to negotiate with them or not.

The Debt Is Growing

This is an obvious consequence of ignoring debt collectors. The longer you go ignoring your debt, the more interest the debt is could accumulate on top of the possible collection fees. Which in turn is more money you will eventually have to pay back.

Debt never just goes away. Even when you try to avoid it. Not dealing with your debt problems can be worse than just facing them and making an attempt to fix the situation. You should make an

Your Friends and Family Could Get Involved

When debt collectors can’t reach you and you ignore them, they then go on to third parties, neighbors, friends, family or even your employer in hopes of finding you. By law, a collector can not disclose the fact that you owe a debt or to discuss your personal finances with other people.

However, having your family and friends dragged into your financial struggles is not a good feeling. Also this can be embarrassing as your friends and family members start calling you to let you know they were contacted by a collections agency looking for you.

The Stress Will Build

Owing anyone money, even if it is a debt collections agency, is a stressful situation. But when they hound you everyday about the amount you owe, only increases your stress. Now add the fact, that as you continue to ignore the collectors the amount you owe back is increasing everyday.

If you reach out to your collector, they will be more likely to work with you and try to resolve your debt issues. This can relieve some of the stress on you and decrease and possibly eliminate their calls.

It’s always good to make a plan to deal with collectors so that you can try to put the debt behind you and start trying to improve your credit score. You should keep track of your outstanding collection accounts so you can be sure to handle them before you are being repeatedly called by collectors.