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Debt collectors could cause you serious embarassment a times.
If you have the misfortune of suddenly finding yourself in a
cash strap situation and you default on your debt payment, the
debt collector could come calling. These cash strap situations
could be caused by loss of job, a medical emergency or events
that make you have to spend a lot of your savings. If you are a
victim of such circumstancies and you have missed one or two
payments, then you should know how to stop the debt collectors
from harassing you and causing major embarassment.
Receiving calls from debt collectors can be unsettling at
times. Persistent calls could even make your life a misery. You
may find yourself screening your calls and refusing to answer
when you realise a call is from a debt collector.
It is one thing to default in payment once or twice and have the
debt collector come calling and another to be a perpetual or
cronic debtor. However, the debt collector ,especially the
hardened type who has heard many a sympathetic story from
debtors is not likely to deal with you softly even if you have
defaulted just once. Moreover, debt collectors work based on
commisions. So the higher amount recovered the higher their
commission. This is why you are likely to be treated same as a
cronic debtor.
Debt collectors : What are their limits.
1. They can make contact with you by phone,mail,fax,telegram or
in person. At home or at your place of work unless your employer
does not allow it. 2. They may not contact you before 8.am and
after 9 pm. unless there was a prior agreement to do so. 3.
While doing their job they must contact your attorney. However,
if you don't have an attorney they may contact other people to
get your phone number or address. But they cannot tell them that
you are in default. 4. If you don't want to be contacted, write
the collector. They may then inform you of what action they are
going to take next. Stopping contact will not clear the debt
where the authenticity of the debt is not in doubt.
Know your rights. Some debt collectors might resort to the
tactics of harassment. And they might succeed if the debtor does
not know his or her rights under the FTC (Federal Trade
Commission ) Fair Debt Collection Policy. This policy is meant
to protect customers. Since the debt collector knows this
policy, the harassment tactic will not work if they are aware
that you also know the law concerning it. According to the
policy;
1. Harassment is not allowed. No debt collector is allowed to
abuse, oppress or harass you. This may include threats,
repetitive phone calls, which is a form of harassment in it
itself, obscene language. 2.Debt collectors cannot misrepresent
themselves as government agents, attorneys or representing a
credit bureau if they are not. They cannot imply they are
sending legal documents if they aren't or that you've committed
a crime, if you haven't. 3.They cannot imply legal action,
including seizing property or garnishing wages unless they are
legally allowed and intend to do so.
The best place to learn more of your rights is from the FTC. You
can also report an agent by contacting the FTC or your Attorney
General. If they are breaking the law you have the right to sue.
About the author:
The author, Salihu Ibrahim, has written many prolific debt
improvement articles at his mobile home loan site
that will save you a some headaches www.loans-n-debts.com
and www.home-improv
ement-tipsonline.com
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