When the phone rings are you afraid that it is a debt collection agency? Then you need to learn about your protection under the law as a citizen. Debt collection agency employees have no right to distress, bully or use shakedown type tactics.
Moreover, there are absolutely no laws written demanding that you talk to or do business with debt collection companies. It is of no consequence even if they claim to have bought the account from the original lender. Whatever debt collection company employee tells you, you are not bound to share or discuss any private matters with these third party collectors.
Are you aware of the laws that prohibit debt collection companies? These types of laws, statutes and regulations were purposely designed to safeguard debtors from subversive tactics employed by debt collection companies. In the past they would frequently threaten borrowers with incarceration, legal suits and even beatings and physical harm.
Do you think debt collectors have changed their ways? You better reconsider my good friend! There are plenty of debt collectors that still bring into play practices that clearly breach the laws introduced to safeguard American citizens. In case you don’t know those laws, make no mistake about it, collectors will take advantage of you!
How does a person learn these laws? There is about three laws every single citizen needs to be aware of. That is the Fair Debt Collection Practices Act, the Fair Credit Reporting Act and Debt Collection Statute Of Limitations. These laws clearly regulate the constraints by which all debt collection companies must do business.
What happens when a debt collection company violates any of these laws? The consequences can be devastating! Many companies are being sued by the debtors and are being forced to pay the debtors instead of collecting a debt.
Other companies are put out of business by the FTC or closed down by a local Attorney General. Although the penalties are high, these companies still exist because there are literally billions of dollars being generated by debt collection outfits.
This next point is crucial, so grasp it A.S.A.P.! If you are struggling with debt and collectors have been phoning you, cease whatever you are doing and comprehend your rights. Don’t hold back until these people cause you to loose sleep. The minute you grasp the things they can and cannot do, your life will be better.
When you hear that these laws give you muscle, believe it! Are you aware that, by law, any time you correctly order a debt collector to not phone you or send you collection letters, they must halt? The majority of people having debt obstacles have no clue they already have this particular force at their fingertips.
Quickly learn how to Make bill collectors stop calling and how you can Make bill collectors stop writing.
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