Debt Collection Laws Prohibit Trespassing Your Property

artsy88 — Sun, 12 Aug 2012 07:36:52 +0000

If you are dealing with the stress of excessive calls from collection agencies, you are not alone. As the economy continues to recover from the recession, millions of Americans in debt are turning to bankruptcy as a solution to increasing financial pressure. Some are trying to negotiate with their Debt Collectors, but are not successful because of the intimidation tactics used by many of them.
Although debt collection agencies resort to a number of unsavory tactics when attempting to collect debts, they aren’t above the law. In fact, the federal Fair Debt Collection Practices Act (FDCPA) specifically outlines behaviors that are prohibited. These include embarrassing you by sending you postcards, calling your friends and family members and disclosing that they’re trying to collect a debt, and calling you late at night or early in the morning.
Remember the difference between a “creditor” and “debt collector.” A creditor is the one who claims to have extended credit in some fashion to you or to be owed money, whereas the debt collector’s main business is the collection of other people’s debts. The FDCPA is primarily targeted at the collectors rather than creditors.
One of the biggest violations debt collectors commit during their aggressive debt collections is to lie over the phone. There are many lies that the debt collectors speak over the phone. They do not disclose their names while trying to collect from you. Sometimes they give you a false identities.
Never pay a bill you don’t owe just to get the collector to “go away.” Any payment of the debt is considered an acknowledgement that you are responsible.
You will be arrested if you do not pay your debt,2. They will seize, garnish, attach, or sell your property or wages, unless they are permitted by law to take the action and intend to do so, or3. Legal action will be taken against you, if doing so would be illegal, or if they do not intend to take the action.
Keeping pace with the record number of people defaulting on bills due to the economic downturn, debt collection activity is on the rise. If you have bills that have defaulted and are now in collection, you have a lot of company… Chances are you are being contacted by one or more debt collection companies. In this brief article we are going to discuss what you can do to stop the debt collection calls and set yourself on the path to economic recovery.
Ending, the debt validation concept makes the collectors follow the law, and prevent scam artist from robbing you from your hard earned money.

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Debt Collection Laws Prohibit Trespassing Your Property