If ever an industry knows how to kick consumers when they're down, it's the debt collection industry.
With rampant unemployment, plummeting housing values, and an increasing number of Americans simply trying to put food on the table, more people than ever before find themselves being hounded by debt collection agencies.
At the same time, debt collectors are turning up the heat, often with a "take no prisoners" attitude.
When you're struggling, being disrespected and even treated with contempt is frustrating, disheartening, and depressing.
All too often, consumers who are on the receiving end of debt collection calls buckle under the pressure.
They either agree to payment plans that are impossible to meet, or avoid answering the phone and opening the mail.
Neither approach is effective.
Instead, you need to understand your rights, find your voice, and become empowered to stand up to debt collection agencies.
Although some would say that this is easier said than done, the truth is that you are protected from abusive debt collection practices.
The law that protects you is the federal Fair Debt Collection Practices Act (FDCPA), which makes it illegal for debt collectors to employ a number of unsavory tactics.
For example, a debt collector can't call you in the early morning or late at night, cannot call repeatedly and hang up, and can't call you at work if you've told him not to or if he knows your employer doesn't allow it.
Similarly, although a debt collection agency can contact your associates (friends, family members, coworkers) to try and locate you, once they have your contact information, they can no longer call the other people in your life.
And at no time can they say that you owe money or that they're trying to collect a debt.
Another provision of the FDCPA has to do with the information they're required to furnish to you.
Within five days of initially contacting you, they're required to send you written notification.
Within that notice, they must state that you have 30 days to dispute the debt in writing.
If you do dispute the debt, they cannot contact you again until they have furnished information about the original creditor and the amount of money you owe.
In the meantime, if they've placed a notification about a past due debt on your credit report, they must also include a notice that the debt is in dispute.
There are many other provisions of the FDCPA that are designed to protect you from predatory debt collection practices.
If a debt collector violates the FDCPA, you're entitled to sue them in federal court, and can receive up to $1,000 plus attorney fees.
That's why fair debt attorneys generally don't charge a fee to represent you.
Their fee is paid by the lawbreaking debt collection agency.
When you know your rights, you'll be able to find your voice.
You'll understand when a debt collector is crossing the line in to illegal behavior, and you can take steps to put a stop to it.
Although you may feel vulnerable, having the law on your side can empower you to do what's necessary to end the harassment and get back on your feet.
With rampant unemployment, plummeting housing values, and an increasing number of Americans simply trying to put food on the table, more people than ever before find themselves being hounded by debt collection agencies.
At the same time, debt collectors are turning up the heat, often with a "take no prisoners" attitude.
When you're struggling, being disrespected and even treated with contempt is frustrating, disheartening, and depressing.
All too often, consumers who are on the receiving end of debt collection calls buckle under the pressure.
They either agree to payment plans that are impossible to meet, or avoid answering the phone and opening the mail.
Neither approach is effective.
Instead, you need to understand your rights, find your voice, and become empowered to stand up to debt collection agencies.
Although some would say that this is easier said than done, the truth is that you are protected from abusive debt collection practices.
The law that protects you is the federal Fair Debt Collection Practices Act (FDCPA), which makes it illegal for debt collectors to employ a number of unsavory tactics.
For example, a debt collector can't call you in the early morning or late at night, cannot call repeatedly and hang up, and can't call you at work if you've told him not to or if he knows your employer doesn't allow it.
Similarly, although a debt collection agency can contact your associates (friends, family members, coworkers) to try and locate you, once they have your contact information, they can no longer call the other people in your life.
And at no time can they say that you owe money or that they're trying to collect a debt.
Another provision of the FDCPA has to do with the information they're required to furnish to you.
Within five days of initially contacting you, they're required to send you written notification.
Within that notice, they must state that you have 30 days to dispute the debt in writing.
If you do dispute the debt, they cannot contact you again until they have furnished information about the original creditor and the amount of money you owe.
In the meantime, if they've placed a notification about a past due debt on your credit report, they must also include a notice that the debt is in dispute.
There are many other provisions of the FDCPA that are designed to protect you from predatory debt collection practices.
If a debt collector violates the FDCPA, you're entitled to sue them in federal court, and can receive up to $1,000 plus attorney fees.
That's why fair debt attorneys generally don't charge a fee to represent you.
Their fee is paid by the lawbreaking debt collection agency.
When you know your rights, you'll be able to find your voice.
You'll understand when a debt collector is crossing the line in to illegal behavior, and you can take steps to put a stop to it.
Although you may feel vulnerable, having the law on your side can empower you to do what's necessary to end the harassment and get back on your feet.
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