Are you being haunted by persistent phone calls that plague you at all hours of the day? Does the sound of your ringtone elevate your blood pressure and fill you with an overwhelming sense of dread? If so, your debt collectors may not be following the rules. So, take a deep breath, put the blood pressure cuff down, and switch your phone back on. You can regain control of your life–and your phone lines–by ensuring that the debt collectors assigned to your debts respect the rules and your rights.
Reclaim the positive relationship you once enjoyed with your phone.
Know the rules.
Debt collectors are like anyone else. They have a job to do, mouths to feed, and bills to pay. As a result, they are often tempted to operate outside the rules in order to collect from debtors. The best way to protect yourself from overzealous collectors is to know what they can and cannot do within the law.
Here are a few of the rules set out by the Fair Debt Collection Practice Act (FDCPA). These rules, however, do not apply to business debts.
- Debt Collectors may phone outside parties to secure your address, phone number, or place of work, but they cannot discuss your debt with anyone other than you or your spouse or an attorney that you have hired to operate on your behalf.
- They may only phone you between 8:00 am and 9:00 pm in your time zone.
- If you have informed them that you cannot take their calls at work, they are forbidden to contact you there again.
- They are not permitted to curse, use abusive language, or misrepresent who they are calling for or the nature of their call.
Don’t sit on your hands.
Upon first receiving a collection call or written notice, it is important that you take action right away.
- Debt Verification Letter. In order to protect yourself from fraudsters, request a debt verification letter that contains proof that the collection agency has been assigned the debt.
- Verify that the debt is yours. If you are already aware of the outstanding debt and the amount jives with your figures, you will need to create a budget that works in order for you to make repayment arrangements. If the debt is not yours, however, you will need to request an official “validation notice” that states who the original creditor was and how much you owe. The collection agency must provide you with this within five days.
- If it is not your debt, you need to send a letter stating so within thirty days of receiving the validation letter. The collection officer can no longer call you regarding this debt. Be sure to make a copy for yourself and send the original via certified mail.
Get it on paper.
It is important to get any agreements that you make with the collection officer in writing. This will ensure that they don’t try to get more than the agreed upon installment amounts, plus it will serve you well if you ever wind up in court.
They are not your “friend.”
Many seasoned collection officers have learned that the old adage that “you catch more flies with honey than vinegar” is true. As a result, they may come across as your new Saccharin-sweet best friend. Don’t let this fool you. While they are not your enemy either, it is important to remember that they are working on the lender’s behalf.
If you are dealing with a particularly “tricky” debt collector, check out this article on how to counter the extreme tactics of debt collectors.
What if they break the rules?
If your collection officer refuses to follow the rules, you can report him or her to the US Consumer Financial Protection Bureau. You can call them or file a complaint online.
Don’t let debt collectors ruin your life. By learning and exercising your rights, you can take control of your phone lines, return your blood pressure to normal levels, and escape that constant state of dread.
What tips can you offer when it comes to dealing with overzealous collection officers?
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