The first in a series of MoneySmart business solutions
The dos and don’ts of debt collecting
Debt collection is legal, but bullying and harassment by debt collectors is not. If you are intimidated by someone trying to recover a debt, there are things you can do to stop their threatening behaviour.
• What debt collectors do
• When debt collectors can contact you
• Negotiating a repayment plan
• Keep good personal records
• Disputing a debt
• What to do if the debt has been settled
A debt collector could be a credit provider collecting the debt themselves or a debt collection agency acting on a company’s behalf. Sometimes debts are sold and the buyer of the debts is the one doing the collecting.