Are Debt Collectors Getting Pushier?
Overly aggressive debt collectors may be causing to some American households. We’ve addressed the subject of debt collectors before on this blog, and as a recent post from WalletPop.com explores some of the latest tricks and tactics. Here’s a look.
Deal with Debt Collectors: Know Your Rights
It seems that debt collectors frequently play the guilt card with borrowers: most people feel a certain degree of guilt if they fall behind on loan payments, and some debt collectors use that emotion to their advantage.
News reports in the last few months have included the following:
- Late-night phone contact: One person has reportedly claimed debt collectors called so persistently and so late at night that they regularly awoke his infant daughter.
- Disregard of requests to cease contact: In one report, a woman noted that debt collectors who were seeking a woman with a name similar to hers refused to stop calling her even after she explained their mistake.
- Improper deduction of payments: In yet another case, a debt collection agency apparently debited a man’s account for a payment when it was not authorized to do so.
- Threats of repossession: Finally, one woman quoted in the WalletPop.com article claimed that, after missing a single payment, debt collectors showed up at her house with vans to collect the furniture on which she was supposed to be making payments.
Here’s the good news: under the terms outlined by the Fair Debt Collection Practices Act, all of these behaviors are illegal.
How to Speak Up to Debt Collectors
Unfortunately, it seems that too many Americans aren’t aware of the laws in place to protect them from harassment and abuse from debt collectors. And, if you don’t act on your own behalf, there’s a chance nobody else will.
So what can you do if you suspect a debt collector is breaking the law and violating your rights?
- Know how you’re protected: Check out this summary of the Fair Debt Collection Practices Act to get an idea of what sorts of behaviors are and are not kosher on the part of debt collectors.
- Put it in writing: Often, putting a request in writing is the best way to make sure your voice is heard. Sending an official letter requesting that a debt collector stop contacting you, for example, will often weigh more heavily than simply asking over the phone.
- File a complaint: Visit the web sites for the Federal Trade Commission and/or the Better Business Bureau – both allow consumers to notify authorities of unsavory and illegal business practices.
- Get some legal help: If you’re not able to stop a debt collector’s contact on your own, you may want to enlist a lawyer to help you navigate the tricky world of consumer rights.
- Consider bankruptcy: If your debt collectors are within the law and you still cannot afford the money they’re asking for, it may be time to consider whether personal bankruptcy might help you ease your financial distress.
Similar Posts:
- Debt Collectors on Facebook: Is It Legal?
- Supreme Court hears case on lawyers’ liability as debt collectors
- Debtor’s Revolt Turns Tables On Dirty Debt Collector!
- Debt Collection Reform on the Horizon?
- Phony Debt Collectors Don’t Need Guns To Steal Your Money Reports Better Business Bureau!
