Handling Creditor Calls

While you don’t have to answer creditor calls, you may find yourself on the line with a creditors or debts collectors and it is important that you know how to handle these calls.

Less is more:

You don’t have to answer every question a creditor asks. Keep the conversation short and simply tell them:

• You’re experiencing a hardship
• You can’t pay at this time, but you intend to pay when you can (don’t specify when)
• Don’t negotiate with them—our experts will handle that for you!

Don’t give too much information:

• Never give them any of your financial or banking information
• Don’t give them information about your income

What NOT to say:

You should never say anything to a creditor that could make them think you are refusing to pay. For example:

• Don’t say you refuse to pay them
• Don’t say when you’ll pay them
• Don’t tell them to stop calling you

Say this instead:

• “I have a hardship but intend to pay as soon as I can.”
• “Your calls are causing me extreme stress.”
• “Don’t call me at work.”
• “Update your records to note that I want to pay, but just can’t pay now.”
• “I’m planning on making sure you get paid. Put that in your notes.”

Note: You may get calls from debt collectors if your creditor sells the account to a debt collection agency. Simply handle these calls the same way.

Watch this video to see what a successful conversation with a creditor looks like and keep it handy so you’re ready when a creditor calls.

It’s normal for creditors to call you, because they’re trying to collect on the debt—even if it’s just a small payment. Keep in mind that it’s necessary for your enrolled accounts to go delinquent to get creditors to a place where they’re willing to negotiate. So, while the waiting is hard, it’s the best strategy to get you the most savings.

Stay focused on your financial goals

You joined the Liberty Debt Relief program so you could resolve all your enrolled debt years faster and for less money than making minimum payments. Don’t let anything a creditor does or says derail your plan.

It’s not personal—to them or you

The creditor’s goal is to get you to pay now on either the full amount owed or just a small payment. Don’t be surprised if they use the same tactics over and over to achieve that goal. Stay calm and try not to get defensive or upset.

Stay focused on your financial goals

We can’t start negotiating with your creditors until there are enough funds in your Dedicated Account. Stay focused on making your program deposits so we can get settlements for you as quickly as possible. Once a settlement is in place, calls on that account should stop.