Debt Collectors

If you are in debt and unable to pay your lenders there is absolutely no avoiding the phone calls that will be heading your way. Ignoring them is an option, but not a wise one. Debt collectors sometimes resort to bullying and harassment, especially if they are a third-party collection agency. These agencies will buy your debt for less than you owe, or work on a commission from the company you owe. As such, they have a lot of incentive to recover your debt.

You may owe money, but you still have rights. A debt collector can only call you between the hours of 8 a.m. and 9 p.m, and they cannot call you continuously. They cannot call you at work if you request that they stop. They cannot speak to anyone but you about the debt; this includes family, co-signers, neighbors, or employers. They cannot use profanity or other abusive language while speaking with you. They cannot pretend to be an attorney, working for an attorney, or affiliated with a court. They can, however, call third parties to make an attempt to discover your location, or another way to reach you. They can also file a lawsuit within the statute of limitations your state law provides in order to get a judgment on a debt. Remember, federal law states that a collection company may not collect more than the actual amount you owe.
 
In the initial contact, a debt collector must send you a written notice within five days of the first phone call. There are a few things you should do if you cannot pay the debt. First, ask questions. Why are you being contacted? Who are they employed by? What debt are they attempting to collect? What is their address and fax number? It may be wise to tell the caller that all future contact must be in writing by certified mail. When you get off the phone, start a file with their contact information. In the file should be all dates and time of phone conversations, voicemails, and when you send or receive mail from them; notes of the conversations you have, including the name of the employee you spoke with; copies of any mail you send or receive; and copies of messages that have an abusive quality.
 
If you request all contact be through certified mail, return receipt requested, a debt collector can no longer call you. This may reduce your stress level considerably. Do not ever pay a debt you do not actually owe! While it may be difficult to convince the collector that the debt is not yours, it is possible. If you being harassed by several different collection agencies, you may want to contact a lawyer, and then all communication to you must first go through your attorney.
 
You may want to consider bankruptcy if you are too far gone to get yourself out of debt, though there are many other options you should choose before going bankrupt. It is important to remember that you have rights, and owing money to someone does not make you a bad person. Do not be ashamed if you have fallen on hard times; brush yourself off and take steps to fix it.