Free Debt Management & Bankruptcy Articles

Professional Authors - Professional Articles



How To Effectively and Responsibly Deal With Debt Collectors Who Are Harassing You!


One of the things we all hate the most is someone calling and harassing us about money that we might owe. It's true that we shouldn't be in a situation where they are starting to call us, however, there are just some times in life where things simply aren't going the way you planned or hoped. So, that is why it is important that if we find that we are in financial difficulty that we know how to deal with debt collectors, whether for a bad credit loan or some other sort of bill especially if you've actually paid it off. It is important to note here that rules for collectors have changed over the years and more and more people are finding themselves being harassed by collectors even when they no longer owe a dime. Here are a few things you can do to try and deal with this situation.

If you discover that through your debt problems that have been taken care of, that you find you are being harassed by creditors for money you no longer owe, you should sit down immediately and write up a “Cease Communications” letter. This will need to be sent to the collection company as soon as you can. When you write this letter you need to include an explanation that you no longer owe this money or in some cases it's money that you never owed due to identity problems. Whatever it might be explain that you don't owe the money. Once this letter is filed with them, and you should send it certified and signature being required, the company by law can no longer legally call you or send you anything by mail.

If the debt was yours but no longer is within the statute of limitations on the debt, here again, sit down and write a “Cease Communications” letter. This letter needs to point out that the debt falls outside of the statute of limitations. If the creditor insists upon suing you then you will need to show up for court and again state that your statute of limitations on this debt has expired. Unfortunately, you may have to repeat this procedure if the creditor sells it to another collector. Make sure that you contact a lawyer or do research on statutes of limitations so that you are correct about this matter.

If it turns out that the debt is not paid, is yours and it is still in the statute of limitations and you simply can't pay it for one reason or another, it is vitally important that you keep in touch with the creditor and answer their phone calls. You also should never make any kind of promise that you can't keep. When you stay in touch make sure not to say much. If you can't pay them simply tell them that and don't go into any great detail. Just give them a short reason for not being able to pay and you'll get back with them in a bit.

One of the worst things you can do is to get into your savings, retirement funds or insurance policies to pay one of these creditors off. These things are secure from all creditors and they cannot legally access them under any circumstance and you shouldn't willingly give them any of it either.

If you can pay something on the debt, but not what they are asking for try and negotiate some sort of settlement. This might be one of your best options. Remember, a creditor would rather get some of their money back instead of none of it. Once you come to a settlement and you finally get it paid off, make sure that they send you a confirmation letter that the debt is paid so that you don't have problems later on down the road.

Final Note: If a collector becomes verbally abusive or even tries to threaten you with saying they will have you arrested if you don't pay up, you need to stop them in their tracks and ask to speak to their supervisor. If that doesn't work then talk with a consumer lawyer about what your options might be in this type of a case.



Comments
Post has no comments.
Post a Comment




Captcha Image






BLOG TAG CLOUD
interest rate debt solution installment plan debt consolidation medical debt credit scores sickness less money family assistance family budget trusted friends extra payments handling money control spending checks new job interest rates debt management advice ongoing bills unemployed worksheet deb consolidation overspending lending company credit report checking account credit card debt honesty house loan management advice common debt payday loan groceries initial research child spending teaching children finance own money loan harassment receipt children saving financial security hospital saving building debts debt collectors pay off bill loan agents restrict spending utility payments live your life credit repair consumer lawyer social services regain control paycheck info purchase protection flat broke save money loan companies repay short sale chapter 7 more income security seperate accounts cash credit limit total balance unexpected expenses extra money stop harassment medical bills part time job bank accounts phone calls debt settlement debit card expenses interest payments become free paycheck unsecured loan debt management mistakes credit card companies rebuild good credit car loan credit line telephone bills monthly payment internet bad debt management debt collection agency piling debts cancer your rights rent payments credit checks debt traps credit card traps common debt traps comfortable living pay off debt professional software Chapter 13 credit score legal action careful handling negotiate mortgage payments making payments credit invest money court appearance education credit card company overcharging debt payment period insurances hobbies specific budget categories debt management great budget paying out debt payment frequency check card credit cards budget job loss saving money illness personal finance charitable organisation mortgages household items assets financial education younger children borrowing gambling problem need money budget sheet domestic support original creditor debt problems bad debt debt relief debt company high interest rate account charges tracking money back support purchases reduce debts credit card debt consolidation loans cable bill emergency savings account injury home equity finances home equity loans credit reports creditors bankruptcy fly-by-night bills salary loan investing discounts good credit low interest help with debt loan amount income second job loss of income paying bills good debt understanding government assistance management program personal finances good credit rating ill health allowance child support debt order report implement a budget buying a house debt collector help credit company home debts debt management tips lending companies live within means deals in writing children budget managing debt full details get out of debt secured loan understanding home equity medical bill classify bills Consolidation Company credit bureaus taking responsibility introductory offers debt consolidation bad financial decisions credit rating monthly bill learning experience gambling debts modified payment plan credit companies losing a job debts insurance doctors interest management tips take control of debt cash card savings credit accounts payment behavior good credit record past bad debt child support help budgeting visualization credit history credit card help loans school jobs monthly payments debt free bank account interest monthly budget repayment plans negotiation down payment great budget ideas unreasonable expectations spending payday loan companies prioritizing liability money debt programs overbearing bills repay loans account fees borrower filing bankruptcy debt debt relief agency budget ideas asset info good budget tax info spend money budget categories candidate whole family lose your job losing your job borrow money savings account installment plans



Copyright 2016 - Free Info Site Enterprises
Privacy Policy  |  Copyright Policy  |  Website Use Policy  |  Non Endorsement Policy  |  Contact Us  

Finance Blogs
best blogs