What to do when the debt collector comes calling

In brief - Your actions will depend on whether you acknowledge or dispute the debt

If you are contacted by a debt collector, you should be frank about what you plan to do. If you dispute the debt, you should get legal advice as quickly as possible.

Debt collectors don't go away if you ignore them

An approach from a debt collector can come in a number of different forms - a telephone call, a letter of demand, attendance at your home or place of business, a statement of claim or summons, a creditor's statutory demand if your business is a Pty Ltd or a bankruptcy notice if you are a sole trader.

The most important thing to do when you receive an approach from a debt collector is not to ignore it.