Debt Collection Agency Held Accountable For Illegal Practices

Anyone who is currently or in the past dealt with debilitating debt knows the anger, frustration and sometimes fear that accompanies debt collection practices. It has often been said that debt collectors are people just like you or I, trying to do their job. Sadly there are times when these individuals or agencies for which they work break the law when attempting to collect delinquent debt. While no one is suggesting that debtors be treated with kid gloves, each person has the right to be treated... 

The Wrong Way To Deal With Debt Collectors

For every situation in life there is a right way to respond and a wrong way to respond. In the case of financial decisions, making the wrong choices can often result in negative consequences down the road. One of the consequences you might face if you have managed your finances poorly or face a financial hardship is having to communicate with collection agencies and debt collectors. When it comes to dealing with debt collectors- reacting the wrong way can end up costing you big time in the end.... 

How Debt Collection Laws Protect Debtors

When a debt collector calls, the conversation can often be so disturbing that you can end up agreeing to something that you may later regret. Even debt collectors must abide by certain rules when trying to collect a debt. The Federal Trade Commission (FTC) outlines the Fair Debt Collection Practices Act (FDCPA) that governs debt collectors and their practices on their website. Here are some guidelines: Contact A debt collector may not: Call you before 8 in the morning or after 9 in the evening. Contact... 

Sample Letter: How To Stop Collection Agency Harassment

Calls and other correspondence from collection agencies seeking payment for outstanding debts can be invasive and harassing in nature. There are certain rules and regulations collection agencies must adhere to or else face hefty fines. If you are on the receiving end of correspondence from a collection agency that is trying to collect a debt that is invalid, outdated or inaccurate you have the right to request they stop contacting you at home and/or work. In fact, even if you do owe the debt which... 

Three Tips Dealing With Collection Agencies

When dealing with collection agencies there are important tips to keep in mind. It’s important to know if the debt is actually yours and know if it’s a first-party or third-party collection. With first-party collections, a collection agency is hired by the lender. In the case of third-party collections, a lender writes off your debt then sells it cheaply to a collection agency. The agency will collect the entire debt and pocket the profit. Here are three tips to consider when dealing with collection... 

How to Get a Collection Agency to Work With You

We’ve experienced, or at least heard about, the endless stories of dealing with harassing debt collectors, trying to collect on debts and using rather low tactics to do so. While it is true that there are some debt collectors and collection agencies that can be over the top, it is also true that not all are evil. In fact, some are more than happy to work with you so they, in turn, can collect their own fee. Working with collection agencies can be difficult but if you truly owe the debt, you’ll... 

How Do Collection Agencies Work?

Most people don’t really worry about how collection agencies operate until they are in a position where they are on the receiving end of communication from a collection agency. As our nation continues to struggle with a weak economy more and more people are finding themselves in a position they have never been in before. If you find yourself falling behind on monthly bill payments you may soon discover how frustrating, humiliating and intimidating it is to deal with a collection agency. By... 

Fighting Back Against Debt Collectors

You are late with your bills, trying desperately to devise a plan to pay off the debts that you owe and then the phone calls start. It might be one or two a day at first but eventually you find that the debt collection calls are becoming more insistent and when you answer, you find that the voice on the other end becomes more threatening and even harassing. You don’t have the money they are demanding be paid in full right on the spot and they want to argue. So what do you do when you have...