Protect Yourself from Debt Collectors

Debt Collectors can Stress you out

Anyone who is in debt knows that a debt collector is capable of bringing more stress than the debt itself brings. These people are not habitually used to such practices. These people may have purchased your debt from the original lender at a lower price and are now trying to recover the money for a profit. They may not be getting paid a good salary for doing so, however. Debt collectors are usually paid commissions on the money they manage to recover. As such, all attempts will be made to recover the money from you by them. They are likely to make mistakes or go against the law in trying to do so. When dealing with a debt collector you should understand your rights. Instances have come to light where people have been harassed for debts that did not belong to them. Many people who were aware about their! rights, have gone against, and won, judgments against these debt collectors. Here is the information that you need.

Basic Rights You Have

First of all, you must understand that a debt collector may only contact you between the hours of 8 AM and 9 PM; not before or after. They are authorized to contact your employer for verification of your residential address once. You can take action against them if they insist on doing so consistently. They may not contact your neighbors in relation to your debt. Maintain records of all contacts made, along with the time, for your reference. You can request a stop on all written correspondence from a debt collector. However, you can do this by sending them a letter yourself. Maintain a copy of the letter for your records. They may contact you in writing if they want to pursue further action in the form of a lawsuit.

Make Sure the Debt is Yours

If you ever feel that you have been wrongly targeted for your debt, you have the right to ask for proof that the debt exists from the collectors. From the time you receive the first notice you have 30 days to make this request. Debt collectors are obliged to provide you with the name of the original lender, the amount of money owed and your name on the lender’s documents. However, no time limits are set for replies to be sent. Debt collectors should be able to provide all information about their companies. They must inform you about the amount that is outstanding along with the name of the person they are trying to collect the money for. Debt collectors cannot represent themselves in a misleading manner or resort to threats under any circumstances. No rights have been bestowed upon them to take the law into their! own hands. On the other hand you are well within your rights to inform them to stop all contact if you have a lawyer representing your case. Information about themselves that is not true cannot be passed and your case cannot be discussed with people not associated with the debt by them. A complaint can be made with the attorney general of your state against the debt collector and legal action initiated, if you feel you that you have been unfairly treated and are a victim of undue harassment.