Repeated phone calls, letters of collection, and threats of lawsuits are all common annoyances of dealing with debt collectors. While their tactics may seem bullying, the truth is that many debt collection companies are violating the rules. The Fair Debt Collection Practices Act has guidelines that debt collectors must follow when attempting to collect on a debt, but many aren’t adhering. Here are some of the list of No-No’s when it comes to collecting on a debt:
- No calling a debtor before 9:00 am or after 8:00 pm
- No contacting a debtor at work or on a work related phone line
- No sharing of information about your debts to an employer, family member, or other third party
- No use of abusive language
- No use of threats to sue or liquidate assets
- No misrepresentation of the amount owed by the debtor
- No misrepresentation of the lender they are attempting to collect for
If you have been subject any of these debt collection actions, contact the Federal Trade Commission to report the company for violation. Dealing with debt collectors is not easy, but you do have rights. First, request a debt verification. Debt collectors must submit proof of the debt to you by law once you have requested it, but you must file this request within 30 days of receiving a written notice of debt. Second, contact your lender directly to verify the debt. If possible, negotiate with your lender a payment plan that you can afford. If you cannot afford a payment plan or are unable to secure a plan with your lender, consult with a New Albany bankruptcy lawyer to discuss your options for debt relief.
