There is possibility for most of the people in the world to face financial problems at least once in their life, depends on how much debt he or she owes.
When someone is in difficult financial situations, one party he or she must deal with is the debt collector.
The debt collectors are always around to offer their services to the banks, financial institutions, credit card companies and so on.
When you are in deep debt, you will definitely be contacted by debt collectors constantly.
You definitely feel the pressure when your life is filled with non-stop telephone calls from debt collectors.
Now, let's look into your rights under Fair Debt Collection Practices Act.
You must know your rights and don't worry when you are threatened by the collectors.
When you start accumulating a substantial amount of debt, you should try your best to pay it and treat your debt seriously.
However, in certain circumstances, even you have tried your best to settle part of the debt; you are not able to pay any single cent for your debt when you are jobless.
Here comes the collection agency.
Always bear in mind that when you receive the first courtesy call from the collection agent, you must get the details of the company, such as its full name, its telephone number and address.
Then you need to double confirm their information by doing some checking on the company to identify whether it is a legitimate agency.
If it is not, you can ignore it.
Don't bother with their calls as they are not licensed debt collection agent.
In normal circumstance, the agent will call you to remind you on your debt on weekly basis, send you reminder letters, follow up with calls daily or a few times a day.
They may be very polite and speak to you in a professional manner.
In such case, you can discuss and negotiate with them on flexible repayment methods.
It is actually possible to negotiate debt settlement as most of the collection agencies have been given the authorization to accept discounted payment.
Let them know your financial difficulties and they may agree to accept a lesser amount as the final payment to close the case.
At the same time, you are able to avoid yourself from being sued bankruptcy.
On the other hand, in some other situations, the debt agent is very harsh and they use dirty tactics to force you to pay your debts.
For instance, the agent starts to pressure you and demand you to provide your personal financial information.
You have to beware that it could be an illegal debt collection agency that dares to withdraw money from your account with or without your authorization if you give the confidential information.
As a result, you have to bear in mind that if the collector is using the above tactics, you have the right to decline to provide your information.
If the agent is using threatening words, you also have the rights to hang up the phone and do not pick up anymore in future.
If there is any further action, you may even lodge a police report when you feel that your life has been threatened.
Last but not the least; you can actually sue the debt collector for harassment as well as deceptive behavior.
You can request for money damages, attorney fees and whatever cost incurred for the particular case.
Although you are a debtor, you are still protected by the act.
Getting disturbed by irritating collectors? - No worries!
When someone is in difficult financial situations, one party he or she must deal with is the debt collector.
The debt collectors are always around to offer their services to the banks, financial institutions, credit card companies and so on.
When you are in deep debt, you will definitely be contacted by debt collectors constantly.
You definitely feel the pressure when your life is filled with non-stop telephone calls from debt collectors.
Now, let's look into your rights under Fair Debt Collection Practices Act.
You must know your rights and don't worry when you are threatened by the collectors.
When you start accumulating a substantial amount of debt, you should try your best to pay it and treat your debt seriously.
However, in certain circumstances, even you have tried your best to settle part of the debt; you are not able to pay any single cent for your debt when you are jobless.
Here comes the collection agency.
Always bear in mind that when you receive the first courtesy call from the collection agent, you must get the details of the company, such as its full name, its telephone number and address.
Then you need to double confirm their information by doing some checking on the company to identify whether it is a legitimate agency.
If it is not, you can ignore it.
Don't bother with their calls as they are not licensed debt collection agent.
In normal circumstance, the agent will call you to remind you on your debt on weekly basis, send you reminder letters, follow up with calls daily or a few times a day.
They may be very polite and speak to you in a professional manner.
In such case, you can discuss and negotiate with them on flexible repayment methods.
It is actually possible to negotiate debt settlement as most of the collection agencies have been given the authorization to accept discounted payment.
Let them know your financial difficulties and they may agree to accept a lesser amount as the final payment to close the case.
At the same time, you are able to avoid yourself from being sued bankruptcy.
On the other hand, in some other situations, the debt agent is very harsh and they use dirty tactics to force you to pay your debts.
For instance, the agent starts to pressure you and demand you to provide your personal financial information.
You have to beware that it could be an illegal debt collection agency that dares to withdraw money from your account with or without your authorization if you give the confidential information.
As a result, you have to bear in mind that if the collector is using the above tactics, you have the right to decline to provide your information.
If the agent is using threatening words, you also have the rights to hang up the phone and do not pick up anymore in future.
If there is any further action, you may even lodge a police report when you feel that your life has been threatened.
Last but not the least; you can actually sue the debt collector for harassment as well as deceptive behavior.
You can request for money damages, attorney fees and whatever cost incurred for the particular case.
Although you are a debtor, you are still protected by the act.
Getting disturbed by irritating collectors? - No worries!