Dealing with debt collectors?
Sometimes is an experience that can be scary, difficult and so upsetting. Actually their job is to recover the debt and they are interested in doing the collectors’ job because they do keep a percentage of all debts recovered from the debtors by them. And some so-called collectors in the past have seen threatening the borrowers, by calling at all odd hours of both the day and the night, pretended to be someone else and contacted friends and family, thinking that their constant harassment would lead to the payment of the debt owed by the debtors.
Talking about the United States, for instance, the Fair Debt Collection Practices Act (FDCPA) is taking charge as the body is seen to regulates the actions and behaviors of third party debt collectors in order to protect debtors from unnecessary harassment and deceitful collection tactics. The Act do well to outlines specific practices that are disallowed in collection efforts by these collectors. However, this for example does not apply to a creditor’s in-house collectors. And I believed that some other states have their own debt collection regulations that may restrict collectors even much better.
What Debt Collectors Must Not Do to You
The FDCPA by its initiative has limited the methods that collectors use to contact debtors. They are allowed under the act to only call between 8 a.m. and 9 p.m., and not a times deemed inconvenient to the consumer unless you have given them permission to call you at the agreed time. They are also forbidden to call you repeatedly in a short period of time in order to harass you.
Collectors are not allowed to threaten you by telling you that you will go to jail or that they will make your debts public. They also have no right to call your employer about your debt, unless such is represents unpaid child support. If you tell any collectors not to call you anymore, they are legally not allowed to do so, but their collection efforts can continue.
Debt collectors sometimes imply that they can garnish your wages or take other personal property to satisfy the debt own by you. But for such to happen, they will need to sue you in a court of law and obtain a court judgment. Only the federal government out of all creditors is allowed to garnish your property without such a judgment.
If you have provided collectors with post-dated checks to satisfy your debt in question, they have no right to try to cash the checks earlier before the agreed date, even though banking systems allow people to do so. With you as their creditor again, they also have no right to charge you any fees, penalties, or interest that was not agreed upon in the original contract.
How to protect your Rights from unlawful collectors
Don’t ever try to give anyone even be it a debt collector, personal or financial information over the telephone chat. A true legitimate debt collector will never ask you for your bank or credit card account numbers, so be careful.
Try your best to confirm with the company you owe the money to if it has turned over the collections to this company that is presenting themselves to you as a debt collector. There are scammers who often pose as debt collectors just for them to make some fast bulk off their Vitim. Never pay anyone or any company that you have not verified to be legitimate.
Reporting Any Debt Collector Who Is Breaking the Rules of the FDCPA
If you are being threatened and pursued by a debt collector who is breaking the rules of the FDCPA, you can report them to both your state Attorney General’s office and as well as the Federal Trade Commission. You also have all the right to sue the debt collector most especially if their collection dealings have resulted in financial or personal damages.
The summary of the whole thing is that if you have to deal with any debt collector about unpaid bills or accounts, know the limits of the methods of collection they are afforded. And be sure to protect your financial information at all times and make no assumptions about the legitimacy of the company until you check it out and confirm such to be real.
Call your creditor to be sure the debt collector in question is actually working for them or not. You can report any violations of the FDCPA to both your state and the federal legislators so as to ensure that such a collector adequately follows the law in the case of future occurrence.