Dave Ramsey says: Using debit card could give wrong types free reign

Dear Dave,

You say to never give collectors access to your checking account. Does that include debit cards, too?

— Sue

Dear Sue,

Yes, it does!

Collectors are looking to get as much as they can on a bad, late debt. I’ve seen numerous situations where collectors have taken more than the agreed-upon amount from someone’s account once they gained access.

To be fair, the collection business does have a few good people in it. But it also has those who will lie and make threats.

If you’re doing something like scheduling utility payments to come through your debit card or out of your personal checking account, that’s perfectly fine.

But there are much safer ways to handle situations with debt collectors.

You can send a money order overnight, or wire the cash to them. You can also send a cashier’s check. Some folks have even used prepaid debit cards that aren’t attached to any of their accounts.

The prepaid debit card isn’t my favorite way to handle these things, but it’s a lot better than giving a dishonest collector the opportunity to really mess you up!

— Dave

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