Being in debt which you can’t manage is not a nice position to be in, yet unfortunately it is a position which many around the country do find themselves in. When debt is not managed or paid back properly, lenders will often look to enlist the services of a debt collection agency. Should this happen, you must take action immediately as this is your last chance to make arrangements before the authorities take tough decisions about how they’ll recoup the money. If you have been contacted by a debt collection agency such as Brennan & Clark Collection LLC, here is how to deal with them.

What Debt Collection Agencies Do

Debt collection agencies have gained something of a poor reputation but the truth is that they are simply companies which buy debt from banks and lenders at a reduced rate, and then seek to work with you to get it paid back. The original lenders are happy to have recouped some of the money they lent, and the debt collection agency specialize in helping people in debt get clear of it.

First Contact

If you have been contacted by a debt collection agency, either with phone calls or letters, the worst thing that you can do is to avoid them. The problem is that if this happens, the debt collection agency can start to pursue you, and they are well within their rights to go to a judge and get permission to come to your home, or perhaps take items that you have bought with the credit such as cars and other possessions.


Don’t bury your head in the sand, face up to the debts which you have and be 100% honest with the debt collection company about your finances. Remember that they cannot take what you don’t have, so just be straight up with them about how much money you earn per month, what your outgoings are, and from there you can reach an agreement of how much to pay each month. The only time that your possessions can be taken is if you fail to pay or you break the terms of the agreement. Debt collection agencies have the power to freeze interest on your debts, they can take a reduced payment to clear the debt and they will do everything that they can to help you to repay whatever credit you have taken out.

Moving Forward

Once you have an agreement in place with the debt collection agency, it is up to you to ensure that you keep them updated with your position. If you lose your job, get promoted or something else happens in your life which is going to positively or negatively affect your finances, then it is your responsibility to let them know.

These companies are nothing to be scared of, work with them and they will certainly help you to reduce how much debt you have.