Few things are as stressful as struggling with a debt albatross around your neck while debt collection agencies harass you morning, afternoon, evening, and night. 

It's enough to drive some people to bankruptcy court. Annual bankruptcy filings in the U.S. added up to more than 430,000 in the year ending September 2023, after all. 

Here are five things to do when aggressive creditors have you stressed out.

  1. Tackle the Issue 

Before creditors hire debt collection agencies to do their bidding, your best bet is to contact the creditor. Rather than hiding from the creditor and hoping in vain that the situation will resolve, you should let the creditor know you simply can't afford to pay. 

Creditors are often more willing than you might think to work out an arrangement. Let the creditor know how much you can afford to pay and when you can afford to pay. It may be possible to reach a mutually agreeable solution.

The creditor might even agree to lessen the amount owed or offer flexible repayment terms.

  1. Understand What Debt Collectors Can and Cannot Do

If a creditor plays hardball or you ignore the creditor to the point where the creditor hires a debt collection agency, it pays to know what it can and cannot do. That'll help you seek recourse if a debt collection agency engages in aggressive or abusive behavior. 

According to the Fair Debt Collections Practices Act (FDCPA), debt collectors aren't allowed to phone you repeatedly, call you at night, reach out to your employer or people you know to ask about your debt, call without identifying themselves, threaten arrest, contact you at work, or do other things that could be termed abusive. You can pursue legal action if a debt collection agency breaks the rules. Talk to a lawyer if harassed by debt collectors. It can be scary to face threatening calls, so getting advice from a lawyer is one of the best things you can do. A lawyer will help you assess your options, let you know if a debt collection agency has violated the law, and help you get compensation -- including attorney fees -- if your court case is successful.

  1. Send a Letter Informing the Debt Collector Not to Contact You Anymore

Write a letter to the debt collection agency and inform them to refrain from calling you. According to the FDCPA, collection agencies must abide by your written request for them to stop contacting you. If a debt collector ignores your request, you can follow up with the Federal Trade Commission (FTC). It's a good idea to keep accurate records whenever a debt collection agency contacts you so you have solid evidence if you need to file a complaint or pursue legal action.

  1. File a Complaint with the FTC

File a complaint with the FTC if a debt collector refuses to honor your request. You'll need to enter specific details like the name of the entity and the dates and times of contact.

  1. Seek Legal Advice About a Possible Lawsuit 

If you're bombarded with calls from debt collection agencies and want to know how to fight back, contact a bankruptcy lawyer. You might find out that a bankruptcy filing may be the best option in your situation. A lawyer can advise you on appropriate steps to take.

Should you find yourself on the receiving end of harassment from debt collectors, remember these five steps. The most important thing to do is speak to a lawyer. You'll get answers to your questions, help to fight the debt collectors, and some peace of mind.