Debtors Rights Everyone In Debt Should Know

When you are in debt and in trouble because you have been unable to make the required payments, your life can become very stressful. The feeling of knowing that you owe something that you cannot pay is a constant irritation. Add to that the fact that you are likely to have debt collectors contacting you frequently, and your life may be very uncomfortable.

However, it doesn't have to be too uncomfortable. The passing of the Fair Debt Collection Practices Act (FDCPA) has made it so that the debtor should not be harassed or unnecessarily contacted by a collector. It lays out guidelines for collectors; things they are required to do and things they are prohibited from doing. When exploring this act, you will come to understand what the debtors rights, or credit card rights, are.

When your debt is sent to a collection agency to be dealt with, you need to know what to expect. It is the agency's responsibility to get in touch with you and inform you of the need to pay your debt. They also must inform you that you can dispute the debt. If you choose to do this, the collector must send you verification of the debt.

Debtors rights also include the right to request that you not be contacted. If you send this written request, the collector is prohibited from contacting you about your debt, unless it is to notify you that the debt has been cancelled or that you are being sued.

Any persistent or repeated phone calls are prohibited, as are abusive language or profanity. You should never have to deal with an angry collector. They should be polite and professional. Also, they are not allowed to contact you at inconvenient hours. Normally 8am-9pm are the set hours a collector can call a debtor.

The collector must be truthful. They cannot do anything to deceive you, including pretending to be from a government agency or trying to get more money from you than you actually owe.

A collector also cannot threaten your arrest or that you will be taken to court, unless there are really grounds for you to be sued and you are likely to be. It can not be used as an intimidation technique.

Every borrower dreads to have their debt taken over by a collection agency. If it happens and you find yourself being contacted by a collector, the best thing you can do is to be completely open and honest. If you are clear about what you can and cannot do, and remain calm and friendly, it is most likely that you will be able to come to an agreement with the collector on how you can repay your debt.

However, it is important that you understand your rights so that you will know how to act depending on the situation. If you feel you have been treated unfairly by a collector, you can sue for damages.

 

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