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Did you get a call from an organization called Jefferson Capital Systems? If so, you are probably wondering why they are contacting you or if it is even a legitimate business. First of all, yes, Jefferson Capital Systems is a real business. The reason they are calling you is probably because they think you owe them money.
But you’ve never even heard of Jefferson Capital Systems before they contacted you. How is it possible for you to owe them money? Jefferson Capital Systems is a debt collection agency. They buy out old unpaid debts from other businesses that don’t want to spend time or resources chasing people for repayment. Instead, they sell overdue debt to debt collectors, such as Jefferson Capital Systems, for a small fraction of the amount owed. The debt collection agency, which exists entirely to find people and get them to pay off their old debts, is much more efficient at doing this and can profit greatly from it.
There are a lot of things to consider when you are contacted by Jefferson Capital Systems or any collection agent. It is important that you know your rights as a consumer, as many collection agencies will try to pull you out of dirty tricks. While this is supposed to be regulated, people are often unaware that debt collectors must follow certain rules set out in the Fair Debt Collection Practices Act (FDCPA).
Once you understand your basic rights as a consumer, you need to start preparing to actually interact with the debt collector. Knowing what to do and what not to do can help you get through the process in much better shape. Here’s what to do when Jefferson Capital Systems tries to collect a debt from you.
What to do when Jefferson Capital Systems tries to collect a debt
As with everything in life, there are some things you just don’t want to do when dealing with debt collectors. Some of these actions may not be very noticeable, which is why it is very important to educate yourself in advance.
Here are a few things to do when Jefferson Capital Systems is trying to collect:
- Don’t pay anything right away or admit the debt is yours – One of the biggest mistakes you can make when dealing with Jefferson Capital Systems can happen right off the bat. Often, people are embarrassed or afraid of the prospect of having debts in collection. These emotional reactions will lead them to immediately pay money or admit that they owe the debt. You don’t want to do this because it negates any chance you might have had of paying off the debt.
- Validate Debt – Before making any kind of payment to Jefferson Capital Systems, or giving them any information, you should ask them to validate the debt. This must be done within the first 30 days after being contacted by the debt collector to receive the benefits. If a debt collector cannot validate that a debt is yours, or you owe a certain amount of money, he or she has no intention of making you pay it. This is exactly why you don’t want to admit that you owe money when you are first contacted by Jefferson Capital Systems.
- Know your local statute of limitations – States all have different laws regarding how long a debt can still be collected after it has been unpaid. Be sure to educate yourself about the laws in your state to see if your debt exceeds this limit. It is important to note that any payment or acknowledgment of debt to Jefferson Capital Systems may revive the limitation period.
- Decide When to Negotiate – If the debt is yours and you have no way of getting around it, you need to decide how to negotiate the situation. Working directly with Jefferson Capital Systems is one way to do it. You can also choose to have a debt relief agency represent you if you don’t feel comfortable doing it yourself. However, this will cost you money and you will need to do your due diligence in choosing a reliable debt relief company.
There is nothing pleasant about having debts in collection, other than feeling like you have it behind you. But this is unfortunately not something that will go away if you just ignore it. Running away from the problem will likely lead to legal action and a possible refund in some form. Your best bet is what to do when Jefferson Capital Systems tries to collect debt.
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This content is brought to you by Will Curtis.
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