If you have debt collectors calling you to collect a debt, it is possible that you are victim of identity theft, that the debt collector has made a mistake and is just after someone else, or of course that a creditor of yours has not received a payment or marked a payment as received. Collection Agencies, and Debt collectors work on a commission basis, and therefore are highly motivated to convince debtors to pay back any debt.
Luckily, the Federal Trade Commission (FTC), defines rules and guidelines to protect consumers from debt collectors harassing you.
These are some good general steps to take if a debt collector calls you.
1. Do not ignore the phone calls, in order to determine if the debt is yours or not.
2. Take information about the debt collector calling, collection agency name, address, contact, and collection account they are referencing.
3. Request in writing the specific debt or collection and account that they are seeking payment on.
4. Make sure you do not pay off debt that is not yours to stop a debt collector from calling.
If the debt is yours:
1. You may request by sending certified mail with a return receipt to the collection agency that communication only occurs by mail, or during specific times. The letter should state that all correspondences are to occur in writing, and they will need to mail you information, rather than calling.
2. Keep in mind, the amount that the collection agency is seeking is always negotiable, you can negotiate down the total amount due, number of payments, and schedule. Do not feel that you have to pay ridiculous late charges and fees that are tacked on as a result of account delinquency.
Keep in mind that Collection Agencies and Debt Collects are NOT ALLOWED to:
*Hide their identity or refuse to provide their name and collection agency.
*Refuse to provide written notice and communication (they have 5 days from your first verbal request to mail your information).
*Use obscene language.
*Call you at work if you tell them they should not call your office.
*Submit notice to credit bureaus (Experian, Equifax, TransUnion) for debt that is in dispute.
*Engage in deceptive practices, such as threatening false consequences for not paying the debt.
Federal Trade Commission (FTC) Debt Collector FAQ for Consumers
http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre18.shtm
Sat, Apr 11, 2009
General