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Most of us have at least one thing in common - we have debt. If youve ever been late on a car payment, you may have received a few friendly reminders from a debt collection agency or bank. However, if youve ever been REALLY late or missed a debt payment, you may have even dealt with behavior bordering on creditor harassment. Some creditors call repeatedly at home and work; some may make threatening comments or ultimatums. This can be the most financial stress imaginable.
Debt collectors understand it can be embarrassing if youre struggling to pay your debts, and even more embarrassing to be accused of not paying them. They often use this knowledge to intimidate you into believing youre powerless. Being late on a bill doesnt make you a bad person. It also doesnt take away your rights. It simply means youre having a difficult time. As long as youre trying to repay the debt, however slowly, you deserve respect and professionalism (even from your creditors).
You Have Powerful Rights!
If you have debts to pay, we encourage you to pay them. Its also important to know your rights so you can defend yourself against creditor harassment. Learn the basics of debt collection laws to protect you.
The Fair Debt Collection Practices Act (FDCPA) is a federal law requiring debt collectors to treat you fairly. It outlines your rights and is designed to protect you from abusive debt collection practices. Technically its meant for collectors, but many creditors also abide by its laws. There are also many state laws to protect you. Check with your States Attorney Generals Office for more information on state debt collection laws.
There are a few definite rules collectors, attorneys or any third party representing a creditor has to follow in contacting you. The debt must be consumer or personal debt. The FDCPA does not apply to business debt.
Ten Basic Laws to Protect You from Creditor Harassment:
1. No Intimidation or Creditor Harassment: They cannot threaten violence or physical harm to you, your reputation, or property. Debt collectors also cannot use abusive language.
2. They cannot call you before 8 am or after 9 pm of your time zone, unless you agree.
3. They cannot call you at work once you tell them your employer prohibits such calls at work.
4. They cannot contact you after you have written them a letter asking them to cease communication with you.
5. They cannot call repeatedly or call without identifying themselves as collectors.
6. They cannot make false statements such as:
Falsely represent the character, amount, or legal status of your debt;
Claim to be attorneys or government representatives;
Imply youve committed a crime or threaten your arrest;
Threaten action they do not intend to take, or cannot legally take.
7. They cannot add interest, fees, or charges not authorized in the original credit agreement.
8. They cannot deposit a post-dated check prior to its date.
9. They cannot publicize your debt except to a credit bureau. Debt collectors cannot notify you with postcards (others could read about your debt.)
10. They are allowed to contact other people only to find out where you live, your phone number, or where you work. They cannot contact a third-party more than once or tell anyone except your attorney that you owe money.
