Protect Yourself from Debt Collection Harassment
The Fair Debt Collection Practices Act is Designed to Protect Consumers…
With the lacking economy affecting so many people, it’s getting harder and harder for many to find money. And though debt collection agencies are finding they have more business than ever, they are also finding that fewer folks can afford to pay their bills, which is causing some to be downright nasty and rude in their collection attempts.
According to the Federal Trade Commission (FTC), complaints of harassment by debt collectors jumped 50 percent in 2009.
Protect Your Identity and Your Credit Score with ProtectMyID®
If you are experiencing pestering calls from collectors, it’s important that you understand your rights. If you feel that you are being harassed, the Fair Debt Collection Practices Act can further educate you on the subject.
Clearly collectors are nothing if not persistent, which, believe it or not, is the number one complaint among consumers – repeated calls. Unfortunately, neither phone calls to your residence or your place of work is illegal. Foul language on the other hand is, and foul language is second on the list of complaints from consumers at 35 percent. So start recording those phone calls in case the harassment leads to a legal hearing.
According to FTC Commissioner Julie Brill, “debt collectors are allowed to engage in legitimate practice in order to try to collect debt. They are allowed to call the consumer at reasonable hours. They are allowed to contact the consumer through the mail. But there are certain things that they are not allowed to do.”
Know that threatening to garnish wages or press legal charges against you, this is absolutely illegal. In addition, collectors cannot contact your family members or neighbors to discuss your financial situation.
Social networking online is, however, legal. That’s right, if done correctly (obeying the law and the TOS of the website), collectors can hunt you down on the internet. According to Commissioner Brill, they cannot contact you online unless they first tell you that they are a debt collector.
Commissioner Brill advises that you contact the Federal Trade Commission or your state attorney general if you are the victim of debt collection harassment. Any company found to be in violation of the law is liable to face stern penalties from the FTC.
If you find that a collection agency has targeted you for someone else’s debt, don’t simply tell the caller that you are not the debtor. You’ll likely continue to receive calls. Instead, ask for the caller’s name and the name, address, and phone number of the collection agency. Follow up with this by sending the company a certified letter that states they’ve contact the wrong party, the debt in question does not belong to you, and that you wish to no longer receive calls regarding the matter.
This will cover your bases should the collection agency post the debt on your credit report. If this occurs, contact the three main credit bureaus – TransUnion®, Equifax®, and Experian® – as soon as possible.
Related Information
Protect Yourself from Debt Collectors
How the Fair Debt Collection Practices Act Hampers Debt Collectors
New Financial Regulatory Law Will Impact Collection Industry
Debt Collection Can Be A Dirty Business
FTC Report: Debt Collection Industry Needs Reform
No related posts. Click here for personal finance information.
Tags: Collection Agencies, Commissioner Julie Brill, Debt Collection, Equifax®, Experian®, Fair Debt Collection Practices Act, Federal Trade Commission, FTC, ProtectMyID®, Social Networking, TransUnion®
 HomeBuyer Savings℠ Citizens Bank |
 Visa Black Card™ Barclaycard |