Whether you have even a little debt or a pretty nasty amount of debt, chances are you have had to deal with debt collectors. What is the best way to deal with debt collectors?
You have plenty of rights according to the Fair Debt Collection Practices Act, and if you have debt, then it is important that you understand those rights when you deal with debt collectors.
Deal with Debt Collectors via The Fair Debt Collection Practices Act
First, all debt collectors must contact you in writing within five days of initially calling you. This information must include the name of the creditor and the amount of money you owe.
If you believe the debt is in error, then you have the right to dispute their claims within 30 days of them sending you’re their first notice. You should submit a written dispute to the collection agency via certified mail.
When you deal with debt collectors, it is important to take notes on any phone calls or save the letters you receive form collectors. Make copies. It’s a small step, but ti may come in handy later on. Write down the day and time they call, as well as the collection agencies name and the name of the person you speak with.
Many debt collectors abide by the rules, but that doesn’t mean that a lot of debt collectors don’t blatantly break the rules as well. There are certain things that a debt collector may not, under any circumstance, do or say during an phone call where they are attempting to collect debt. Things like using abusive or obscene language, repeated calls, calling before 8 a.m. or after 9 p.m. unless you agree, calling you at work if you have asked them to stop, talking to anyone but you or your attorney about the debt, misrepresenting the amount of your debt, falsely claiming to be an attorney or a law enforcement official, falsely claiming to be a credit bureau representative, threatening to sue unless they actually plan to take legal action, threatening to garnish wages or seize property unless they actually intend to do it. That being said, debt collectors may only call between the hours of 8 a.m. and 9 p.m. If you deal with debt collectors who call you any other time, especially in the middle of the night, they are well outside their bound.
Lastly, the most important thing to remember when you deal with debt collectors is to keep the conversation as short as possible.