Dealing with collection agencies can be an unpleasant experience with annoying tactics at best — and predatory, or even illegal, at worst.
The FTC enforces the Fair Debt Collection Practices Act (FDCPA), which makes it illegal for debt collectors to use abusive, unfair, or deceptive practices when they collect debts.
The most important thing for you is to know what debt collectors (and attorneys) cannot do:
- Contact other people such as your neighbors, relatives, or employers about the debt except to get your address and phone number.
- Contact you before 8:00 A.M. or after 9:00 P.M.
- Contact you at work if you tell the collector your employer does not allow this.
- Contact you directly if you have an attorney.
- Continue to try to collect the debt if you dispute the debt in writing.
- Lie to you about the debt or threaten or harass you.
If debt collectors are calling you, consider talking to them at least once, even if you don’t think you owe the debt or can’t repay it immediately. This will help you gather information about the debt and confirm whether it’s really yours.
If you do talk to them, be sure they can provide “validation information” as follows:
- How much money you owe
- How to get the name of the original creditor
- How old is the debt and when was the last payment made in the account. It may be past the statute of limitations to be sued on this debt.
If a debt collector is hounding you, seeking payment on a consumer debt you owe – whatever the situation is, we can help.
THD Credit can help settle debt and stop all the harassing phone calls. Just call us at 800-822-7120 today.