296 – Dealing with Collection Calls in COVID-19: Debt Negotiations, Deferrals, and Credit Report Impact

296 – Dealing with Collection Calls in COVID-19: Debt Negotiations, Deferrals, and Credit Report Impact

Author: Doug Hoyes May 2, 2020 Duration: 34:16

On episode 295 last week, Ted Michalos and Doug Hoyes said that collection agents are not making as many phone calls as they used to due to COVID-19. While that's true, there are still calls being placed. So what can you do in this crisis if you get a collection call on overdue debt? Are collectors open to a deal in these times? Enter Blair Demarco-Wettlaufer, COO at Kingston Data and Credit. On today's podcast, Blair explains how collection agencies are operating during the lock-down and shares advice for how you can negotiate realistic debt repayment. He also discusses how debt deferrals will potentially impact our credit reports and gives insights on how the collections industry will change going forward. Lots of practical tips & advice in this show so tune in!

 

Helpful Links:

 

Stop The Collection Calls: https://www.hoyes.com/blog/stop-the-collection-calls-advice-from-blair-demarco-wettlaufer/

Collection Agents: How Did They Find Me?  https://www.hoyes.com/blog/collection-agents-how-did-they-find-me/

How to Negotiate with a Collection Agent, Episode 264: https://youtu.be/ZgNWpKfBUwU

Blair Demarco-Wettlaufer's Blog: https://receivableaccounts.blogspot.com/2020/04/covid-19-what-will-this-do-to-credit.html

How to get your free credit report from Equifax https://www.consumer.equifax.ca/personal/products/credit-report/

And TransUnion https://secure-ocs.transunion.ca/secureocs/credit-agree.html


Doug Hoyes sits down each week with a different specialist to untangle the complicated feelings and hard numbers around owing money. The conversations in Debt Free in 30 move beyond simple scare tactics or dry theory, focusing instead on actionable strategies for managing debt, rebuilding savings, and making informed investing choices. You’ll hear from trustees, financial planners, and counselors who explain concepts in plain language, stripping away the industry jargon that often leaves people feeling overwhelmed. Whether it’s navigating a consumer proposal, understanding credit scores, or starting to invest with a tight budget, this podcast provides a clear-eyed look at the steps toward financial stability. Doug’s approach is grounded and pragmatic, reflecting his deep expertise in the field, making each episode feel like a direct consultation with a knowledgeable guide. Tuning in regularly offers a consistent source of demystified advice, turning what can be a stressful topic into a manageable process. It’s that blend of expert insight and relatable conversation that defines this particular personal finance podcast.
Author: Language: English Episodes: 500

Debt Free in 30
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