Stopping those creditors from callin
being irritated by phone calls from the collection agencies. If your debt
has been handed over to one of these agencies, you already have a black
mark put on your credit report. However it is important to know your
rights when it comes to being in debt. Phone calls from the collection
agencies are unethical and if you understand the laws regarding good
credit, you can protect yourself from the problems and all the illegal
doings of these companies.
The most crucial law to know and review if you think that you are being
treated badly is the Fair Debt Collections Practices Act, or FDCPA. This
is a law that will give you all the information that you may need so that
you understand if that company is doing something wrong. If they are not,
contact your government officials and police to file a compliant.
The first thing that you should understand that you have 30 days to review
the debt that they are putting upon you. You should know that people do
make mistakes, so this is a 30 day grace period that will give you enough
time to make sure that it is all correct and in order. Before this, the
debt collectors should not start to all you and harass you by phone or any
other form of contact. After the 30 days are up, your phone may start to
ring so much and this is going to be the collectors calling you to pay your
bills. Be aware that what they are saying is not only unethical it is also
against the law.
The debt collector may not threaten you with anything that he or she says.
They do not have the power to do this. For example, bill collectors cannot
threaten to use your lack of good credit to ruin your reputation and tell
others like your friends, boss or employer about your debt problems. Most
cases the collector may only share the information about your debt with you
and your spouse and the lender. Anything else is a violation and you can
have the opportunity to sue a collection agency if they tell any of this
private information to anyone other than that.
The collector cannot threaten to ruin your credit history. This is a very
unacceptable threat. The damage is already been done to your credit
report. Debts are not allowed to be reported for 7 to 10 years and this
will depend on your credit-reporting agency. The federal law does not
allow a collection agency to further ruin your credit in any other way. If
they threaten this, or to tell anyone about your debt, the collection
agency is in violation of the FDCPA and it is your obligation to report the
agency to the authorities. A collector cannot threaten to arrest you or
garnish your wages in any way.
The only thing that a collection agency can do is taking you to court. If
they are threatening anything other than this, you should not only get off
the phone, you should also call the police and they will assist you in
filing an official complaint. Having good credit is on the line and if a
collection agency is not doing their job right, they could be mis-reporting
your debt as will. You need to know your rights and protect yourself too.
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Tags: Bill Collectors, Boss, Collection Agencies, Compliant, Credit Report, Creditors, Day Grace, Debt Collection, Debt Collections, Debt Collector, Debt Collectors, Debt Problems, Doings, Fair Debt Collections Practices Act, Government Officials, Grace Period, Maintaining Good Credit, Phone Calls, Reputation