With a lot of debt collectors willing to negotiate with consumers in order to get even a partial settlement, consumers are taking a step forward by picking up the phone and communicating with their respective collectors. As options to settle debts open up, so do consumers who cannot wait to deal with their financial obligations.
A lot of these collection encounters still go awry, however, with either the collector harassing and threatening the consumer or the consumer ending up paying for a debt that he/she did not accrue.
Fortunately, these mishaps can be avoided and both consumers and collectors can begin negotiating for better payment arrangements or more agreeable debt settlements. You can pretty much tell how a negotiation will go based on the initial contact from your collector.
Keep in mind these 5 important things you should not do when talking to your collector about a specific debt for the very first time and you should be able to get a decent arrangement from your collector:

• Forget to ask for your collector’s name and information: Legitimate debt collectors will readily give you this information so you can maintain communication with them. The last thing they want is for you to disappear, leaving them without a settlement. Getting this information will also give you added assurance and protection against harassment from rogue debt collectors.

• Forget to ask for the supposedly involved creditor and the amount: Often, consumers forget to ask about the debt in question either because they simply assume that the collectors are referring to the consumer’s current debt or because they become intimidated and scared of saying anything wrong during the conversation. Asking for the debt details ensures that both you and your collector are on the same page.

• Ignore errors found on your collector’s initial letter to you: Noting and contesting these errors will make sure that you only pay for what you owe. Check for inconsistencies and accounts that you were not aware of until receipt of the letter.

• Divulge information about your current income or debts: Giving your collector this information and other private details such as your social security number can be detrimental to your overall debt reduction strategy. Remember to do a bit of research about your available options.

Send a cease and desist letter – unless you’re absolutely sure that the debt isn’t yours. Sending a C&D or asking your collector to stop contacting you as early as the first call may give off the idea that the only way that your creditor can contact you is through filing a lawsuit. Talk to your collector, don’t ignore him, if you want to settle your debt. And the best option is to hire a Collection attorney.