A tough financial situation can lead to loan default and debt accumulation. While defaulting on a loan is bad enough, defaulting on a high interest loan like a payday loan can often lead to debt collectors calling you every day.
If you are looking to stop payday debt collector calls that won’t stop, there are some steps you can take to free yourself from them. Debt collectors can constantly harass you and prevent you from getting yourself back on your feet- but you don’t have to stay that way! There could be another convenient financial option for you to help stop debt collector calls.
How to Know if a Debt Collector Call is Legitimate
While your debt may be real, not all payday debt collector calls are legitimate. Unfortunately, scammers exist, and they are not always who they say they are over the phone. Some scammers will pose as debt collectors and attempt to extort you over the phone with constant harassment.
One of the ways you can make sure that a debt collector is the real deal is to ask for a physical address. This is one of the easiest ways to determine whether a scammer is legitimate, as you can look up the address and the agency online. If the debt collector is unwilling to give you an address, it is likely that they are not legitimate.
Steps You Can Take to Stop Payday Debt Collector Calls
If a debt collector is being aggressive and harassing you, one of the steps you can take to alleviate your financial stress is to report them to the FTC, or the Federal Trade Commission. As a consumer, you are within your right to protect yourself and notify the collector of this report. Usually, this is enough to lessen the harassment.
Other steps you can take to stop payday debt collector calls are:
- Hire an Attorney: If the FTC is not enough to stop this collection, another step you can take to ensure that you are left alone is to hire an attorney. The FDCPA, otherwise known as the Fair Debt Collection Practices Act, can protect you from constant harassment practices from debt collectors. By contacting an attorney that specializes in debt and debt collection, they may be able to find the collector harassing you and prosecute them.
- Write a Letter to Your Payday Debt Collector: If the debt collection company is legitimate, gaining their address means that you can write them a letter. By law, they are required to stop calling you if you do so. There are a few exceptions to this rule, but it is a solution worth trying. In your letter, you need to inform your collector that you do not have the means to pay your debt. You should keep a copy of the letter and have proof that you mailed it, so keep your receipt! The letter must be sent by certified mail as well.
- Negotiate to Stop Payday Debt Collector Calls: You may not have considered this option before, but you can attempt to negotiate with your collector to obtain a deal. To do this, you need to figure out how much you owe, and how much you can afford to repay. Make sure to get any agreement in writing and ask for a payment plan that meets your terms as well as your financial situation.
Extra Ways to Earn Money to Pay Off Your Debt
If you do agree to a payment plan to stop payday debt collector calls, you may need a way to earn extra cash. Some of the fastest ways to do so are:
- Get a Second Job: If you have free time on the weekends, you could use it to walk dogs, or even drive for a ridesharing service. Third party ridesharing apps can allow you to work on your own schedule when you have free time!
- Sell Unwanted Household Items: Sites like eBay and Offer-Up are a great way to make some extra cash. If you have any nice household goods that could sell, you could use it to pay off your debt collector.
- Sell Clothes Online: If you have any clothes you haven’t worn in a year or so, why not list it online and make some extra cash?
Consider Consolidating Your Debt to Stop Payday Debt Collector Calls
If your free time is limited and you are not making enough money with a second income, it may be time to consider consolidating your debt. While you may be hesitant to apply for another loan, a title loan can be a great resource to utilize for debt consolidation!
It is one of the many common reasons why borrowers choose title loans as a financial resource. Title loans are secured loans through collateral, which is the title to the borrower’s vehicle. Collateral helps offset the risk to lend to a borrower without a strong credit history. Even if you aren’t confident with your credit and a payday loan has left you in debt, a title loan may be a way to consolidate your debt in an alternative way!
Use a Title Loan to Consolidate Your Debt
If you are looking to stop payday debt collector calls, debt consolidation is an effective method to do so. Debt consolidation means to take out another debt to pay for the one you are struggling with. Usually, the new loan you apply for to consolidate will have more reasonable interest rates that fit your budget.
ChoiceCash Title Loans can offer more competitive interest rates that are easier on your wallet and financial situation.
If your credit has taken a hit from a payday loan, you may not qualify for traditional types of funding. Luckily, a title loan is an alternative funding option. 1 If you are struggling to repay your debt, consider using a title loan to do so! While you may not be confident with where your credit is at, you could still qualify for the cash you need to consolidate your loan.1
Apply for a Title Loan with ChoiceCash Title Loans to Stop Payday Debt Collector Calls
Ready to stop payday debt collector calls and get back on your feet? See if you can qualify for a title loan today and consolidate your debt into a more reasonable loan option! With ChoiceCash Title Loans, qualified borrowers can get their cash in as little as 24 hours after approval.1
Get started on your loan inquiry today by heading over to the website and answering a few questions about your car. Or, give a loan representative a call at 855-914-2945. They are available for extended hours each day of the week to answer your title loan questions!