Use A Lawyer To Fight Against Harassment By Collection Agency

People nowadays need to take help of financial aids in the form of loans in order to attain the goals set by them in personal life

. Using the help of others in the quest to meet the financial needs bring into the picture creditors who loan the money and the people taking financial aid are called debtors. Things can certainly take an ugly turn if the debtors do not manage to pay off the money borrowed from the creditors within the stipulated time. In the end, debtors may have to suffer harassment by collection agency which is a big problem that exists everywhere in the world.

Collection agencies are organizations which are hired by banks or money lending personnel to retrieve the amount owed by the debtors. Third party agency and first party agency are the two general types of collection agencies. The interim agency is known as the first party agency as it is a part of the lending financial institution. It is quite obvious to say that a third party agency is simply hired by financial institution for a certain amount of time and is not a part of their actual workforce. A major part of harassment by collection agency is done by these third party agencies as they work on their own. Even though the authorities have laid down rules for these collection agencies, there is a lot of harassment being done. This is generally because collection agencies do not appoint the right type of employees and do not even bother to provide them the right training. As a result, debtors face harassment from collection agency which can be extremely difficult.

Collection agencies can harass people in different ways. Collection agencies are quite capable of doing physical harm in addition to abusing your verbally over the phone by calling you repeatedly throughout the day. The agents sometimes even harass the family of the debtor to increase the pressure. Such unruly tactics used by the collection agencies are not only unethical and immoral but are also strictly prohibited by law.

To stay away from getting into such situations, it is wise to take care to read through all the documents signed with the financial institution or bank or any other lender. It is best to get all the details on the course of action if the loan cannot be paid on time from the officials of the money lending organization. You should complain to the bank of lending organization if the harassment gets out of hand. Keep an account of all the documents related to the complaints that you make. Another way to deal with the growing harassment by the collection agencies day by day is to ask a lawyer to assist you in warding off the trouble makers as they can be booked under the law. Lawyer can be helpful in many ways. They will not only help you fight your case but also educate and make you aware about your rights as a debtor and consumer of the banks' services.

Harassment by collection agency can cause emotional trauma to the debtors. In extreme cases it can even lead to suicides. So, you should look towards hiring a lawyer and fighting back with legal aid.

by: Terrance Schurer

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