What to do About those Debt Collectors
If you've fallen behind on your bills, it's tough enough trying to get back on your feet without those debt collectors constantly calling you - don't you have rights? What can you do to stop the harassment?
The Fair Debt Collection Practices Act provides you with some rights and protections. Learn your rights and take advantage of them. This law covers debts from auto loans, credit cards and medical expenses.
Rules that a debt collector must follow when contacting you about an unpaid bill:
1. They may not call you after 8PM or before 9AM, unless you have agreed to this.
2. A debt collector is not allowed to call you at work.
3. Debt collectors may not harass you with ceaseless calls.
4. No verbal abuse. A debt collector may not use threatening or profane language when contacting you about a debt. A debt collector may not falsely imply that you have committed a crime by failing to pay a bill.
5. No informing friends, neighbors, co-workers, or family members about a debt. A debt collector may contact people that know you, but only to find out your address, your phone number, and where you work. In most cases, a debt collector may not tell anyone other than you or your attorney that you owe money.
6. Debt collectors are not allowed to try to collect more money than the actual amount of the debt.
7. Debt collectors are not allowed to threaten you with arrest or with lawsuits, unless they are genuinely going to file suit against you.
8. Debt collectors are required to give you notice of your debt in writing within five days of trying to contact you. This notice must contain the amount of the debt and the name of the creditor to whom it is owed, as well as telling you what to do if you believe that this debt has been reported in error.
9. Debt collectors must honor your written request to stop contacting you if this request is made within 30 days of your receipt of their written notice of the debt.
If you believe that the debt has been reported in error, be sure to say so in your letter to the debt collector. Of course, a debt will not simply disappear just because the debt collectors have stopped calling -either they or the creditor may still sue you for the debt that you owe.
10. Any disputed debt must be verified by the debt collector, with a written verification of the debt being provided to you. Until you receive this written verification, the debt collector must cease their attempts to collect - after they provide this to you they may continue attempting to collect the debt.
If a debt collector breaks any of these rules, report them to the Federal Trade Commission (877-382-4357) or to your state attorney general's office. Each state has its own regulations governing collections; the attorney general's office in your state can fill you in on the laws applicable in your state.
The Fair Debt Collection Practices Act provides you with some rights and protections. Learn your rights and take advantage of them. This law covers debts from auto loans, credit cards and medical expenses.
Rules that a debt collector must follow when contacting you about an unpaid bill:
1. They may not call you after 8PM or before 9AM, unless you have agreed to this.
2. A debt collector is not allowed to call you at work.
3. Debt collectors may not harass you with ceaseless calls.
4. No verbal abuse. A debt collector may not use threatening or profane language when contacting you about a debt. A debt collector may not falsely imply that you have committed a crime by failing to pay a bill.
5. No informing friends, neighbors, co-workers, or family members about a debt. A debt collector may contact people that know you, but only to find out your address, your phone number, and where you work. In most cases, a debt collector may not tell anyone other than you or your attorney that you owe money.
6. Debt collectors are not allowed to try to collect more money than the actual amount of the debt.
7. Debt collectors are not allowed to threaten you with arrest or with lawsuits, unless they are genuinely going to file suit against you.
8. Debt collectors are required to give you notice of your debt in writing within five days of trying to contact you. This notice must contain the amount of the debt and the name of the creditor to whom it is owed, as well as telling you what to do if you believe that this debt has been reported in error.
9. Debt collectors must honor your written request to stop contacting you if this request is made within 30 days of your receipt of their written notice of the debt.
If you believe that the debt has been reported in error, be sure to say so in your letter to the debt collector. Of course, a debt will not simply disappear just because the debt collectors have stopped calling -either they or the creditor may still sue you for the debt that you owe.
10. Any disputed debt must be verified by the debt collector, with a written verification of the debt being provided to you. Until you receive this written verification, the debt collector must cease their attempts to collect - after they provide this to you they may continue attempting to collect the debt.
If a debt collector breaks any of these rules, report them to the Federal Trade Commission (877-382-4357) or to your state attorney general's office. Each state has its own regulations governing collections; the attorney general's office in your state can fill you in on the laws applicable in your state.
About the Author:
Home Buddies is a real estate investor credit repair coach. Starting with their free session for website visitors, Home Buddies develops and implements a customized strategy to improve credit and creates a business development strategy to help real estate investors or homeowners overcome problems to financing properties and building their portfolio.
posted by Credit Counseling at
5:14 PM
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