Debunking Debt Collection Myths

Knowing more about debt collection puts you in control

Myths about debt collection can make it harder to put your unpaid debt behind you. It can be difficult to know what to do because there’s a lot of bad information out there. MCM is here to help you get the facts by debunking some common debt collection myths. From phone calls to payment plans and more, here’s the truth behind just a few of these common misconceptions.

Ignoring calls and letters from debt collectors is a good idea

False. Ignoring calls from a debt collector will not stop the collection process. Reputable collection agencies train their Account Managers to offer you flexible repayment plans that fit your budget. Maintaining an open dialogue could help you avoid further collection efforts.

A “charge off” means I don’t have to pay

False. It’s a common misunderstanding that if a debt is charged off, you don’t have to repay it—consumers are STILL responsible for all outstanding debts. What makes a charged off debt DIFFERENT is that you may have to pay a new creditor that purchased the charged off debt.

A debt collector can’t verify the account is yours

False. Reputable collection agencies always have account information from the original creditor, and you have the right to request this information. Debt collectors have a job to make sure they’re collecting from the right people; in other words, they have carefully determined the responsible party before contacting consumers.

Debt collectors are not flexible when it comes to paying back debt

False. One of the benefits of working with a debt collector is flexibility: they offer repayment plans designed to meet ALL budgets.

Past-due debt and you

If you have an account with MCM, you can find information about your account in our secure payment portal. Click-to-chat on our website can get you answers fast. Our expert account managers also are available to answer your questions and help you understand your options. MCM makes it easy to find the best way for you to resolve your past-due debt. Log in to your account now or call us at (800) 296-2657. We’re here to help.


This content is for informational purposes only and should not be considered legal advice.

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