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Rules I follow when dealing with debt collectors/scammers

Pay Day Loans Suck

I was thinking, perhaps I should come up with some rules that I would recommend using when dealing with debt collectors/scammers.  Obviously I’m not a lawyer so don’t take this as iron clad legal advice.  This is just a list of rules I’ve developed for when I’m talking to these types of organizations/people.

  1. Take notes.  I have a little notebook that I carry with me everywhere.  I think it’s important to have an actual physical notebook.  It’s easy, cheap, you can use it while on the phone, etc.  Even if you don’t want a physical notebook, you should take notes.  Memories change with time so having a definite record of what transpired is vital.
  2. Don’t admit to owing the debt, even if you think you might.  I don’t know how legit it is but I had once been told that even admitting the debt “restarts” the clock.  So the collectability…

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