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



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

Finance Blogs
best blogs