There are hundreds of so-called debt counselors, and most of them are broke. Yep, they got no more money than you. Can they be of use to you in your quest to get out from under the debt collector’s boot? Yes, and here is how.

The bank will usually stop trying to harass you for an outstanding debt once it’s tried for six years without success. There’s actually a statute of limitations on loans. You’re not even legally required to pay a loan back once it’s six years past the last time you paid an installment. Shady Debt collection companies though are happy to buy the right to collect these loans from the banks for very little money and come after you with renewed vigor all over again; kind of the way zombies get up out of the grave and start to follow you around.

Upon writing the demand letter for proof addressed to the collector, he will not likely have any absolute evidence of the amount owed using the old 1960s law. In the end, you will not owe anything to anyone.

It also has to do with why their employees are so aggressive, they are paid by commission and get a portion of any amount that they negotiate. It is important that you do not let them scare you into paying them, this is one technique they love to use.

The consumer should also request to see the new terms of a contract or agreement by the third party debt collector and the original creditor. It would be very wise to request this information from the time that you receive a letter from the debt collection agency or if the company calls you regarding the bill. Charge offs can seriously harm your credit report.

Or you could collect the debt yourself. It is not difficult to master Credit Collections skills. The task requires no special skills – just an ability to learn a few simple tasks and a lot of common sense.

Remember, creditors are trained to scare you and force payment. These people are just doing their job (right or wrong remains to be a question) do not fear them, they must abide the law.