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You'd surely agree that in today's world good credit is as good as money, maybe even better. It's far easier, for instance, to rent a car with a good credit card than with cash.
To deal with collectors and collection agencies and improve your credit score there are so many things you can do.
Don't tremble in fear if the collector is an attorney. Lawyers are subject to the same laws as collection agencies when collecting a debt.
The consumer has many resources he can use to deal with collection agencies and improve his credit score. Most of these are contained in:
Fair Debt Collection Practices Act (FDCPA)
http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre27.pdf
Fair Credit Reporting Act (FCRA)
http://www.ftc.gov/os/statutes/031224fcra.pdf
Consumer Credit Protection Act (CCPA)
http://www.fdic.gov/regulations/laws/rules/6500-200.html#fdic6500tilaccpa
Fair and Accurate Credit Transactions Act of 2003 (FACTA)
http://www.treasury.gov/offices/domestic-finance/financial-institution/cip/pdf/fact-act.pdf
It is vital to act promptly to get the most benefit.
The most important thing you can do with your credit is to always take good care of it and treat it like the precious asset it is. Treat your finances responsibly so others can see that you can be trusted to pay back whatever they lend you.
Having good credit not only helps your finances, it also speaks well about your character. This is not to say that, in some instances, credit scores can’t take a plunge through no fault of our own. The best of us can fall into hard times, and even ultimately file for bankruptcy.
This website is a collection of information on the workings of the system to help you understand it and to give you recommendations on how to deal with creditors and collectors and increase your credit score by improving your credit report.
I’ll try not to clog your mind with things that are iffy. I’ve done my hard time in the credit slammer and have done my research and I know of strategies that are effective and I will focus on those. If it worked for me or people I know, it should work for you.
Please keep in mind that each state has different laws. You have to ultimately do some research for your own state and/or consult an attorney.
Knowing how to handle a collection agency is also a vital part of keeping your credit in good standing.