Myth: Debt collectors force people into bankruptcy.

Fact: In reality, it would not make sense for a debt collector to encourage a consumer to file for bankruptcy. When people file for bankruptcy, their financial obligations to their creditors are usually wiped clean—and the credit grantor and debt collector receive very little or nothing. Debt collectors understand that people in financial trouble often need guidance in settling their accounts without expensive litigation, and often need the flexibility of alternative payment arrangements to work out their financial trouble. A debt collector’s business is to collect, but in practice, collecting often includes counseling.

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