Written by Jasir Jawaid
At the height of the pandemic, the U.S. enacted measures designed to keep people afloat during challenging economic conditions. This helped bring down the number of people who had debt in collections, estimated by the Urban Institute to be 64 million Americans as of August 2021, down from 68 million in 2019. But these actions were meant to be temporary, and there's a likelihood the number will rise as these protective measures lapse.
Not being able to repay your debt on time is bad enough, but having your debts sold to a debt collection agency is a nightmare scenario for any borrower. But it doesn't have to be that way. Instead of panicking and stressing out over dreaded phone calls or emails, you should keep a level head and research your rights and what steps you can take to get out of the situation. This article will walk you through how best to navigate the situation and come out a winner.
This article was published on JoyWallet and can be read here in full.
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