Learn
do-it-yourself free debt settlement or let an expert debt settlement company
negotiate a huge chargeoff for you.
By
negotiating settlements, you pay less than what is owed and that can end collection agency harassment quickly.
You
should first review the pros and cons of negotiating settlements.
One
reason to let a settlement company negotiate on your behalf, is because a
professional debt settlement company is experienced in negotiating and may be
able to get you higher chargeoff amounts.
Free Debt
Settlement Tips and Debt Settlement Companies for Hire
Fair
Debt Collection Practices Act Overview
Debt collectors are infamous for some of their underhanded tactics used to
collect debts from consumers. Many collectors get away with these tricks because
consumers are not aware of the laws dictating how collectors can and how they
cannot deal with consumers when collecting a debt.
The
Fair Debt Collection Practices Act, better known as the FDCPA, is a federal law
that governs the actions of parties acting as debt collectors for personal
debts. Auto loans, home loans, medical bills, and credit card accounts are all
considered personal debts.
Whenever
one of your creditors uses a third-party to collect a debt, that third-party is
obligated to follow the rules of the FDCPA. There are several things that a debt
collector cannot do under the FDCPA. They cannot:
Call
you before 8am or after 9pm
Call
you at work, provided the debt collector is aware your employer doesn't
approve of these phone calls
Harass,
oppress, or abuse you
Lie
to you or falsely imply that you have committed a crime
Use
unfair practices in an attempt to collect a debt
Conceal
his or her identity on the phone
Disregard
a written request from you to cease further contact
The law
also dictates how the debt collector must act when communicating with a person
other than the debtor. The collector is prohibited from giving out information
pertaining to your debt to anyone but you or your spouse. In fact, they are not
allowed to tell anyone else that you owe a debt.
Debt
collectors are not allowed to communicate via post card or use any kind of
symbol or language on an envelope that indicates they are a debt collector. Once
the debt collector learns you are represented by an attorney and has the contact
information for the attorney, the debt collector can only communicate with the
attorney.
Debt
collectors are prohibited from using any form of harassment or abuse while
attempting to collect abuse. They cannot threaten violence against the debtor,
their reputation, or their property. In addition, debt collectors cannot use
obscene or profane language when communicating with the debtor via phone or
through mail. Collection agencies and their collectors cannot publish any kind
of listing of consumers that have not paid debt, except to a consumer reporting
agency.
If your
rights under the FDCPA have been violated, you have one year from the date of
the violation to file a lawsuit against the debt collector. You could receive up
to $1,000 in addition to actual damages and attorney fees.
