Plain and simple, a debt collector counts on your ignorance and fear in order to collect. That means if you don’t know the most basic debt-collecting rights, which are quite simple to recall, you’ll be taken for loads of money and treated terribly in the process. Next time the collector comes calling, be aware they assume you do not know the following.

That you owe the debt in question. Sounds strange, but it’s true: Many third-party debt collecting agencies have extorted sums of money from consumers who didn’t owe them a nickel. Under the Fair Debt Collection Practices (FDCPA), within five days of contacting you the collector must mail you their idea of debt validation. In return, ask for the real thing: actual proof from original creditor.

Harassing you is perfectly legal. This means if a collector is anything but nice you can tell them to stop calling you completely, period. Harassment can be a loosely defined word, but if you experience foul language, legal threats or even repeated calls, file a complaint here with the Federal Trade Commission (FTC) as these actions are highly illegal.

A time limit exists to collect on the debt. Collectors have been known to trick consumers into paying time-barred debts that are way past their ripeness. This means as soon as an owed debt is reported to the credit agencies, no matter the amount a shrinking window of opportunity starts for collectors to shake money from you for it. Get your three free copies of each report to timeline how long they have left.

You don’t have to pay their huge interest amounts. Credit laws clearly state any expenses incidental to the principal obligation can be considered unfair. If you do owe, legally you are just barred to the original amount. If you decide to negotiate a payment, keep this smaller sum in mind.

You can negotiate the amount you want to pay. Got that smaller sum in mind? Now talk it down. Third-party collectors (sometimes called junk-debt buyers.) are in the business to buy bad debts for pennies on the dollar from the original lender, so make sure they receive a similar figure from your end. Any smart debt collector realizes something is better than nothing. Show them you know this and more.