How to Deal with Jefferson Capital Systems

by Josh Biggs in Finance on 23rd September 2021

Individuals who have been receiving calls from an organization called Jefferson Capital Systems might be confused as to why they’re contacting them. This is totally reasonable, and it’s generally a good thing if your Spidey senses are tingling when someone calls you and says you owe them money. 

However, Jefferson Capital Systems is a real company. They’re a debt collection agency based out of Minnesota. If you’re getting a call about an unpaid bill, you’re not alone. Over 70 million U.S. adults have debt in collections. There’s nothing to be ashamed of if you fall into this group, but know you need to act in order to preserve you financial wellbeing. 

Failing to pay your debts can lead to a variety of negative outcomes, with the debt going to collections being one of them. But beyond this, ignoring owed debts can lead to huge problems for your credit score. Allowing your credit to go too low can be a source of long-term hardship for consumers, as it can make getting a loan significantly harder. And if you are able to secure new debt, it’s likely going to come with high interest rates, which will make repaying what you owe more difficult. 

When it comes to dealing with Jefferson Capital Systems, you don’t want to delay. Although there’s nothing fun about dealing with debt collectors—and often, it’s quite intimidating—it’s something you need to face head-on. If you don’t address the issue, it’s possible you’ll be facing lawsuits, which can then give the court authority to garnish your wages in order to repay the debt collector.

Now that you see collections isn’t an issue to just ignore, here’s how to deal with Jefferson Capital Systems

How Should You Deal with Jefferson Capital Systems When They Contact You?

You want to be sure you’re on your game when talking to an associate at Jefferson Capital Systems. Being unsure of how to interact with a debt collector can lead to a situation where they’re able to exploit your lack of preparedness. Remember, the goal of the debt collector is to profit as much as possible from your account. Keep this in mind when you’re conversing with representatives of Jefferson Capital Systems. Here are some further tips for how to deal with Jefferson Capital Systems debt collection:

  • Resist paying anything right away – There are a few reasons why you don’t want to make any payments to a debt collector right away. They’ll likely try to persuade you this is a good idea; but it’s actually not in your best interest at all. For starters, you might be able to get out of paying your debt at all if it can’t be validated or it’s outside of the legal statue of limitations (more on those concepts later). Additionally, as soon as you make a payment to a debt collector, it restarts the statute of limitations time frame for when debt can be legally collected. 
  • Have the debt validated – You need to validate your debt within 30 days of being contacted by Jefferson Capital Systems. Validating debt is important because it forces the debt collector to prove a debt is yours and you owe the amount they’re claiming. If they’re unable to produce this documentation, they have no basis for taking you to court. 
  • Investigate the statute of limitations – If the debt being collected on is indeed yours, it’s time to see if it still falls within the statute of limitations for collections within your state. Each state has its own rule regarding how long a debt can be collected after the fact. If yours is no longer in this time frame, you might be off the hook. Regardless, you’ll want to take it seriously if Jefferson Capital Systems sues you. It’s wise to have an attorney work with you in determining whether your debt is outside the legal statute of limitations. 
  • Negotiate a settlement – If you’re unable to get out of the debt, you’re going to have to pay for it one way or another. Negotiating a settlement with Jefferson Capital Services is one option. You can also elect to have a debt relief agency represent you if you don’t feel up to the task. It’s important, however, to only work with accredited and trustworthy debt relief companies, as not all organizations that claim to offer these services have the consumer’s best interests in mind. 

Working through debt collection can be a difficult time. But it’s only going to get resolved if you take the necessary actions to make it end. Make sure you follow these guidelines when dealing with Jefferson Capital Systems.  

Categories: Finance