What happens when a debt goes unpaid, and what can you do about it?

​

Having a debt sent to collections can feel overwhelming, especially when you are unsure what happens next. You may be receiving calls, noticing an account on your credit report, or wondering how to resolve an outstanding balance.

The good news is that understanding the collection process can help you make informed decisions and take practical steps toward improving your financial situation.

In this guide, you will learn:

• What a collection agency does.

• What to do when a collection agency contacts you.

• Your rights when dealing with debt collectors.

• How paying or settling a collection may affect your credit report.

• What options may be available if you cannot afford to pay.