Stress Faced from Debt Collectors
Anyone who is in debt knows that a debt collector is capable of bringing more stress than the debt itself brings. Such practices are not a habit with these people. These people may have purchased your debt from the original lender at a lower price and are now trying to recover the money for a profit. Debt collectors may not be well paid for collecting the debts.
Debt collectors are most likely to be working on commissions on the recoveries that they make. As such, they will spare no effort in trying to recover the money from you. In this process, they will make mistakes or go against the law. When dealing with a debt collector you should understand your rights. Instances have been seen where people have been harassed for a debt that they did not owe. Because they knew their rights, they have gone against, and won, judgments against these debt collectors. This is the information that you need to have.
Do you know about your Basic Rights
First of all, you must understand that a debt collector may only contact you between the hours of 8 AM and 9 PM; not before or after. They do have a right to get your residential address verified by your employer once. But if they try to do it with regularity, you are at liberty to act against them. They are not allowed to contact your neighbors with any information about your debt.
Maintain a log of all contacts made, along with the time, for your records. Debt collectors are not allowed to send you written correspondence, if you have requested them to stop. You will be able to do this by sending them a letter yourself. Do not forget to keep a copy of the letter for your records. They may only contact you in writing if they are looking to pursue further action in the form of a lawsuit.
Make Sure the Debt is Yours
If you ever feel that you have been wrongly targeted for your debt, you have the right to ask for proof that the debt exists from the collectors. You will have 30 days to make this request after receipt of the first notice. Upon a request being received a debt collector is obliged to provide you with the name of the original lender, the money owed and your name on the lender’s documents. There are no time limits set for which a reply has to be sent. Debt collectors are required to provide all information about their companies. They are also required to inform you about who they are collecting the money for and the outstanding amount they are trying to recover. Resorting to threats or representing themselves in a misleading manner is something that debt collectors are not allowed to do under any circumstances.
They have no right to take the law into their own hands. On the other side you may inform them to stop all contact if you have a lawyer representing your case. They should not pass on any information about themselves that is misleading or discuss your case with people not associated with the debt. A complaint can be made with the attorney general of your state against the debt collector and legal action initiated, if you feel you that you have been unfairly treated and are a victim of undue harassment.
