Debt Collecting: Know your Rights

You're sitting in your home quiet and peaceful when the phone rings and you jump

. All of a sudden you are feeling anxious, your palms get sweaty and your heart starts to beat a thousand miles a minute. You question answering it. You think maybe it's important. But what of it's the credit agency? The credit agency that has been calling for those late payments you're behind on. What should you do? What do you say?

If you can relate to these feelings of anxiety caused by debt, then you are probably familiar with receiving unnerving calls from collectors. What you may not know is that creditors must follow a set of rulesstated in theFair Debt Collection Practices Act. If they don't, their daunting calls, and letters could be labeled as harassment. Continue reading to educate yourself on when, where and who collectors may contact concerning your unpaid debt.

When will collectors try to contact me?

Collectors are only allowed to call you between the hours of 8am and 9pm. They may leave a message, but they can only leave their name and number. Collectors are not allowed to discuss your debt on a message. If you have collectors leaving you messages on your machine and would rather they not, you just have to ask. If asked to not leave messages, collectors must abide.

Can collectors contact my workplace?

Yes. Debt and credit collectors will try to contact you at work either through phone or mail. However, a collector does not have the right to inform any of your co-workers or managers the reason for their call. They must also stop calling or sending notices to your workplace if you ask them. Typically you would have to send a written letter stating this request so they have it on file.

The only reason for a collector to notify your employer of your unpaid debts, is if the collection agency is suing you. In this case, the collector must have a written and signed letter from a judge sent to your employer. If the ruling of the suit favors the collector, your wages will most likely be docked and sent as payments to this collector. To avoid this situation, call your debt agency before it gets out of control to work out your own realistic debt management plan.

Will collectors try to contact my family and friends?

Yes. If you are continuously avoiding a collectors calls, messages, and letters they will try to locate you by contacting your family and friends. However, they may not disclose any account information regarding the amount of debt you owe. The only information they may reveal is their name, who they are trying to contact, and how they may be reached. If asked they must stop calling.

What is the best solution to stop collector's calls and get out of debt?

The best way to get collectors off your back and start getting on the right track to get out of debt is to go through a credit counseling agency. Expert credit counselors deal with debt collectors on a daily basis and will work for you to stop those anxiety causing phone calls and letters. In addition to talking to your debt collector, credit counselors will also work with your collection agency to get you the lowest interest rates possible. Consulting with a credit and debt counseling agency will also give you more insight on how to handle your everyday finances so you won't have to be in this situation again.

Debt Collecting: Know your Rights

By: Ashley

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