Debt Collections - How to Fight Debt Collectors and Win - Even When You Owe the Money
By Joel Marks
What is a Debt Collector - These are third party companies that collect debts on behalf of credit card companies, banks, hospitals and other businesses. When a creditor decides their chances of collecting a debt are pretty slim, they oftentimes turn the debt over to a debt collection agency for recovery. Here's how the process typically works... a debt collection company purchases debts from the original creditor, usually for pennies on the dollar or on a contingency basis. Next, they then attempt to recover all or a portion of the original debt.
The issue is not the fact that they are attempting to collect debts. The issue is the manner in which they go about it. Even in light of the fact that we have laws in place to protect consumers, numerous debt collection companies still resort to illegal practices. That includes but is not limited to: harassment, coercion tactics, verbal abuse, threats of violence and illegally accessing/freezing debtor's bank accounts. If you or someone you know has been contacted by a debt collector, these five facts are crucial to how they will deal with you and how you will deal with them. Learn them and pass them.
Fact #1 More people complain to the (FTC) Federal Trade Commission about debt collectors than about any other industry. The complaints are so many that some attorneys are making a great living specialize in suing rogue collectors. Apparently, it goes without saying that debt collectors don't always follow the (FDCPA) Fair Debt Collection Practices Act. Get a hold of this, in 2007, the (FTC) received more than 70,000 complaints against companies and individuals engaged in questionable and illegal debt collection tactics.
Fact #2 Just because you may owe money to a creditor, as a consumer, you still have rights under the (FDCPA) and state laws. Prior to these laws, debt collectors operated without impunity. Meaning they would call you all hours of the day and night, use abusive language, threaten you and use other demeaning tactics that forced some debtors into mental and emotional breakdowns.
Fact #3 Almost all third party companies involved in collecting debts hope you know nothing about your rights under the FDCPA or those afforded to you by your state. Your lack of knowledge puts them at a decided advantage. That's why it's critically important, if someone ever contacts you to collect on a past due bill or debt, assume they are going to violate FDCPA, stop everything you're doing and immediately learn your rights. Also, contact your state to find out what laws they have in place to protect consumers from unethical debt collection practices.
Fact #4 When one of these collectors violates your rights, FIGHT BACK! Even though you may owe the debt, never allow any debt collector to push you around. Inform them, that when they deal with you, they will do so according to the (FDCPA) and your state laws. By taking this stance, you put them on notice that your Federal and State protected rights WILL NOT be violated.
Fact #5 No matter how powerful they appear, no company engaged in the debt industry wants to appear on the radar of the FTC Federal Trade Commission or be red flagged by any state Attorney General. Chances are, when that happens an investigation has already ensued and the authorities are about to drop the cease and desist bomb. If any company or person has violated your Federal or State rights under the LAW, don't even think about it, SUE THEM!
What We Have: Clear and Concise Paths To Help You End Your Debt Problem. You Won't Find This kind of Guidance Anywhere Else, Not For Free.
Who It's For: ANYONE who needs, wants and passionately desires to get out of debt and live Debt Free without losing their sanity and dignity.
Joel Marks has been helping people get out of debt and avoid bankruptcy and foreclosure for over fifteen years. Utilizing savvy debt counseling, debt advice, Federal laws and a team of attorneys, he has quietly assisted thousands in getting debt free.
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