By Jason Steinhook
Debt Harassment is Illegal-Don’t Let Creditors Victimize You!
Debt can easily become your best friend or your worst enemy. If used correctly, it will allow you to make important purchases during a time when your money is not available. This is especially helpful during emergencies.
Don’t ignore the situation
You should never assume that a debt problem will go away if you
don’t give it attention. When you find yourself with debt that
you’re having trouble paying back, you must act before things escalate.
Contact your creditor
The best thing you can do is contact your creditor. Let them know that you’re having trouble making the payments, but that you are willing to work with them to come to a solution.
If the collection agency doesn’t stop after receiving the letter, it’s time to involve a debt harassment lawyer. Unfortunately, this won’t be cheap, but it’s worth the cost.
Debt is a great tool that can easily turn into a burden. When it becomes an issue, many people are tempted to bury their heads in the sand, but it’s best when you stand up for yourself and face the problem head on. Remember to contact the creditor first. If you have to deal with a collection agency, know your rights, and use them.
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Debtors have rights under the FDCPA |
Debt can easily become your best friend or your worst enemy. If used correctly, it will allow you to make important purchases during a time when your money is not available. This is especially helpful during emergencies.
Unfortunately,
many of us have found ourselves in trouble when it comes to debt. The
bills keep coming and interest keeps accruing until it seems like
there is no end in sight. Handling this situation is tricky, but
there’s a right way and a wrong way to do it.
Don’t ignore the situation
Contact your creditor
The best thing you can do is contact your creditor. Let them know that you’re having trouble making the payments, but that you are willing to work with them to come to a solution.
Most of the time, your creditor will be very receptive to this. They know it is in their best interest to find a way that will allow you to pay your debt to them.
Dealing with a collection agency
If contacting your creditor doesn’t work, they will eventually hand over your debt to a collection agency. It’s usually not a pleasant experience to deal with these companies. They are known to call continuously in order to get you to pay them.
Luckily,
you have rights in this scenario. The Fair Debt Collection Practices Act, or FDCPA, states that
collectors must stop attempting to contact you once they receive a
written request.
When
you write this request, make three copies. One should be sent to the
collection agency, one should be for your personal records, and the
other should go to this address:
Federal
Trade Commission
6th
& Pennsylvania Ave.,
NW,
Washington, FC 20850
If
they have broken any laws in their previous attempts to collect the
debt, make sure to note that in the letter. Once it is received, they
may contact you once more to let you know that they have received the
letter. At this point, they will inform you whether they intend to
stop pursuing the matter or sue you.
When further action is necessary
If the collection agency doesn’t stop after receiving the letter, it’s time to involve a debt harassment lawyer. Unfortunately, this won’t be cheap, but it’s worth the cost.
According
to this
debt harassment lawyer, usually all it takes is one more letter –
this one from the attorney – requesting the collection agency to
stop the harassment. If that doesn’t do the trick, the debt
harassment lawyer can help you make claims under the FDCPA.
The
lawyer will most likely send one more letter asking the collection
agency to stop. Generally this will be enough to resolve the
situation. If it’s not the lawyer will help you make any claims
under the FDCPA.
Another
option is filing bankruptcy. A collector must then attempt to receive
permission from the bankruptcy court to contact you. You should only
use this option as a last resort, however. This will affect your
credit for up to 9 years, and you can most likely stop debt
harassment with less dire actions.
Stand up for yourself
Debt is a great tool that can easily turn into a burden. When it becomes an issue, many people are tempted to bury their heads in the sand, but it’s best when you stand up for yourself and face the problem head on. Remember to contact the creditor first. If you have to deal with a collection agency, know your rights, and use them.
About the author: Jason
Steinhook works for a debt harassment lawyer. He is often frustrated
when clients contact him for services – no one should be victimized
by overzealous creditors!
Image license: StacieBee, CC BY-NC-SA 2.0
Image license: StacieBee, CC BY-NC-SA 2.0