Top Tips For Understanding Debt Collection Laws
Many people have debt and some have debt that has become unmanageable making it vital to understand debt collection laws.
Have you had debt collectors calling you non-stop trying to collect a past due debt? If so, you have probably experienced some uncomfortable and uninvited treatment by these debt collectors.
As a debtor, it is important to understand debt collection laws and the following tips will help you to understand these laws and get your debt taken care of with some dignity and respect.
1.
The most important thing to know regarding debt collection laws is that collectors are not allowed to harass you.
This includes calling you names, making you feel embarrassed about the debt, or continuing to call even after being asked not to call your phone number anymore.
If you request that the collector not call you anymore they are not allowed to do so.
Many of them will continue to call and this deems it necessary for the debtor to report the collector for illegal actions.
2.
Collectors are not allowed to attempt to collect more money than is actually owed.
This is highly illegal and must be reported if a debtor discovers that this is what is going on.
3.
Debt collection laws require debt collectors to protect information of the borrower.
This includes sending letters in discreet envelopes and not making any personal information or information pertaining to the debt visible to a third party.
They are also not allowed to contact third parties regarding your debt.
This includes any roommates, family member, employers, friends, etc.
The only person they are allowed to contact regarding the debt is you, the borrower.
4.
Debt collectors are also not allowed to sell the borrower's personal information to any third parties such as marketing partners.
It is also not allowed to attempt to make more money from your personal information than they are authorized to collect from the existing debt that is owed.
5.
Debt collection laws prevent debt collectors from being able to call a borrower between the hours of 9:00 PM and 8:00 AM.
6.
Collectors are not allowed to tell a borrower any information that is not true.
Some examples of this may be that the borrower has broken the law; the borrower owes more than they do, or any untrue information regarding the borrower's payment history.
Debt collection laws have been created to protect borrowers from any unfair treatment that could be experienced from debt collectors.
Unfair treatment from debt collectors occurs far more than people care to admit.
If you feel that you have been a victim of unfair treatment from a debt collector it is important to take action without feeling intimidated.
Most of the time, if a debtor is willing to take legal action against a debt collector because of unfair treatment the debtor will come out a winner.
Do your part in stopping this unfair treatment and take action against these debt collection companies by knowing and becoming familiar with debt collection laws.
These laws are created and exist to protect you as the consumer.
Have you had debt collectors calling you non-stop trying to collect a past due debt? If so, you have probably experienced some uncomfortable and uninvited treatment by these debt collectors.
As a debtor, it is important to understand debt collection laws and the following tips will help you to understand these laws and get your debt taken care of with some dignity and respect.
1.
The most important thing to know regarding debt collection laws is that collectors are not allowed to harass you.
This includes calling you names, making you feel embarrassed about the debt, or continuing to call even after being asked not to call your phone number anymore.
If you request that the collector not call you anymore they are not allowed to do so.
Many of them will continue to call and this deems it necessary for the debtor to report the collector for illegal actions.
2.
Collectors are not allowed to attempt to collect more money than is actually owed.
This is highly illegal and must be reported if a debtor discovers that this is what is going on.
3.
Debt collection laws require debt collectors to protect information of the borrower.
This includes sending letters in discreet envelopes and not making any personal information or information pertaining to the debt visible to a third party.
They are also not allowed to contact third parties regarding your debt.
This includes any roommates, family member, employers, friends, etc.
The only person they are allowed to contact regarding the debt is you, the borrower.
4.
Debt collectors are also not allowed to sell the borrower's personal information to any third parties such as marketing partners.
It is also not allowed to attempt to make more money from your personal information than they are authorized to collect from the existing debt that is owed.
5.
Debt collection laws prevent debt collectors from being able to call a borrower between the hours of 9:00 PM and 8:00 AM.
6.
Collectors are not allowed to tell a borrower any information that is not true.
Some examples of this may be that the borrower has broken the law; the borrower owes more than they do, or any untrue information regarding the borrower's payment history.
Debt collection laws have been created to protect borrowers from any unfair treatment that could be experienced from debt collectors.
Unfair treatment from debt collectors occurs far more than people care to admit.
If you feel that you have been a victim of unfair treatment from a debt collector it is important to take action without feeling intimidated.
Most of the time, if a debtor is willing to take legal action against a debt collector because of unfair treatment the debtor will come out a winner.
Do your part in stopping this unfair treatment and take action against these debt collection companies by knowing and becoming familiar with debt collection laws.
These laws are created and exist to protect you as the consumer.
