Are you behind on your credit card bills? Many Canadians today have a lot of unsecured credit, and most of it is with credit card companies. If you get far behind on your payments, you may hear from a collection agency. So, what should you do about this? This information on collection agencies from 4 Pillars debt consultant services in Victoria can help you make an informed decision.

What is a Collection Agency?

A collection agency collects payments on overdue accounts. They may buy your account from a lender or work on behalf of the lender to collect payment from you. This is the nature of their business, but debt collectors are the not the same as debt-buying firms. A debt buying firm purchases debts and collects on them or hires collection agencies to collect. 4 Pillars debt consultant services in Victoria understand collection agencies and can advise you on what to do. In short, none of these people are your friends.

What Happens When Your Debt Gets Sent to Collection?

If your account is overdue for a number of months, the lender may turn it over to a collection agency. Before they call you, they send you a notice in the mail. It mentions who you owe and how much you owe and requests payment. If you want to avoid the hassles of collections, contact your creditor and find out if you can make a payment to stop the collections process.

When Collectors Call

Get the caller’s name, company, and lender’s name. Talk to a service like 4 Pillars debt consultant in Victoria. They explain all your options and can help you stop debt collector harassment. Your consultants work with you to make sure you understand your rights, and they show you ways you can pay down your debts, so you may not have to file for bankruptcy.

4 Pillars consultant in Victoria can help you with many kinds of credit problems. To find out more about our services, visit us on the World Wide Web today at http://4pillarsdebtconsultants.ca/.