"Debt Collection Strategies to Get Rid of the Harassment"
Debt Collection Startegies
Debt collectors have a bad reputation - rightfully so. Many take advantage of the reality that many American citizens are unfamiliar with the numerous debt collection methods available.
To be able to collect a personal debt, a large number of debt collectors will be dishonest, misrepresent information, or commit fraud in order for a debtor to pay the debt collector.
What follows is an easy-to-understand breakdown of a government law which is called the Fair Debt Collection Practices Act (FDCPA). This list of laws and regulations was developed to defend the legal rights of debtors concerning the collection of a debt.
We will go over mainly the most frequent scenarios which occur, so you may implement debt collection strategies that affect you.
Contact of a debt collector other than the borrower
In case a credit card debt collector talks to anybody besides the debtor, he has to identify himself. Furthermore, he must not disclose that he's trying to collect a debt. He will not communicate with the exact same individual more than once.
On top of that, he may not communicate by means of postcard. He can't use any kind of language or image on the envelope which implies that he is a debt collector.
In the event the debt collector is aware that the borrower is being represented through an attorney, he may only contact the lawyer, unless the lawyer doesn't reply to the debt collector within a realistic time.
Communication of the debt collector with the borrower
A debt collector can not talk to a debtor in the event that:
1. The time or place is inconvenient to the debtor. Additionally, he can not contact the consumer before 8am and after 9pm.
2. The borrower is at his job and the company discourages these kinds of calls.
3. The borrwer notifies the debt collector that he refuses to pay the credit card debt, or simply that he would like to stop phone calls with the debt collector. If that's the case, then the debt collector may communicate to the consumer that the lender or debt collector may obtain legal action so as to try to recover the credit debt.
Harassment or Mistreatment
A debt collector may not harass a borrower. This consists of verbal threats of injury to the consumer, the debtor's family members, his possessions, or his good reputation.
He may not employ obscene or foul language, or frequently contact the borrower to bother, abuse or harass him. If a debt collector calls, he must identify himself.
Fake, deceitful or misleading representation
The debt collector may not claim that he's an official officer or worker from the government. Also, he may not deceive the consumer into thinking that he's an attorney, in the event that he's not.
He may not misstate the amount or legal status of a debt.
The debt collector may not declare that the failure to pay a personal debt will result in imprisonment, wage garnishment, or asset seizure unless it is lawful and he informs the borrower that the creditor or debt collector intends to take legal action.
Utilization, or allocation of a bogus file in order to escalate the payment of a credit card debt.
The false misrepresentation that paperwork aren't legal, and do not call for any kind of action by the debtor.
Validation of a financial debt
Within five days from the first communication with the borrower, the debt collector needs to give the consumer a written notice containing:
1. The total of the credit card debt due.
2. The specific lender to whom the debt is owed.
3. A declaration that if the debtor is not going to challenge the validity of the debt within 30 days, the debt collector will consider the debt to be legitimate.
4. If the borrower disputes the debt to be valid inside the thirty day period, the debt collector will need to supply the borrower with a copy of the actual contract between lender and borrower, or a copy of the judgment (if applicable) that the debt is valid.
Legal actions by consumers
If ever the debt collector is proven to be in breach of the FDCPA, the consumer may file legal action, and request damages in the amount of $1,000.
In order to see the complete content of the FDCPA that the Federal Trade Commission publicized, visit: www.ftc.gov/bcp/edu/pubs/consumer/credit/cre27.pdf
You are now informed together with debt settlement methods that should get the collectors off of your back!
About the Author
Debt Free Solutions is a financial consulting company that assists Americans across the U.S. to eliminate their credit card and other unsecured debt (e.g. medical bills, collection accounts).
We utilize various programs and strategies to assist them to get rid of their debt in the quickest, most efficient method possible. We also analyze the risk factor. We structure our programs to drastically minimize the risk that is inevitable with all debt elimination programs.
We offer our clients much more than a debt settlement company does. The vast majority of debt negotiation companies simply help you settle your debts with your creditors- nothing more.
On the other hand, we provide additional services to significantly help to minimize the risks that are involved with negotiating with your creditors.
First, we offer a free, no-risk 10 day trial service. If, for any reason, you are not completely satisfied, you simply walk away. No commitments. No contracts.
Next, we provide a comprehensive credit repair service to all our clients. This is a $795 service that is absolutely free!
Also, we offer free attorney consultation (a maximum of five sessions) in case one of our clients’ creditors files a lawsuit.
Last, we provide a written guarantee that our clients’ creditors will settle for an average of 50% or more for all of the debts they attempt to negotiate.
Our services are competitively priced- and include the above services!
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