Some people often receive irritating phone calls from the collection agencies because they have difficulty in maintaining good credit
. These people are those who are not able to pay their credit card loan, mortgage loan for a property in Santa Maria real estate or any other credit-related debts.
Usually, you will have a black mark on your credit report if your debt has been passed to these collection agencies. Even though you are in debt, keep in mind that you still have your own rights. There are laws regarding good credit that help you protect your self from problems and all illegal deeds of these companies, such as unethical phone calls from them.
The Fair Debt Collections Practices Act or FDCPA is the most important law you should know and understand if you think that collecting agencies are treating you badly. This will provide you with detailed information on how to determine if an agency is doing illegal deeds. You can file a complaint to government officials if you experienced unethical calls.
The review process of the debt they are putting on you takes 1 month. This 1 month-period is a grace period to make sure that everything is correct and in order. Before this period, collectors should not give you phone calls or any other form of contact. If 1 month is over, you may begin to receive follow-up calls from collectors reminding you of your bills.
Keep in mind that collectors dont have the power to talk to you in a threatening manner. Other collector may threaten you by saying that they will use your lack of credit to ruin your reputation. They may also tell other people about your debt problems. Collectors who share your private financial information can be sued because it is a violation. Private information should only be shared only with your spouse and your lender. Just like in Santa Maria real estate in Santa Maria CA, homeowners personal information is kept private.
Another unacceptable threat is when the collector threatens to ruin your credit history which is not allowed by the federal law. If you experience this, make sure that you report the agency to the authorities since it is a violation of the FDCPA. Depending on your credit history, debts are usually not allowed to be reported for 7-10 years. It is also against the law if they garnish your wages or threaten to arrest you.
Taking you to court is the only thing a collection agency can do to you. Call the police if you experience any threats from them. It is important to know your rights and protect your future. Make sure that you check your credit report to check for errors.