finance
stop the debt collectors from harassing you
It’s important to pay your bills on time so that an unpaid account won’t be assigned to a third-party debt collector. However, you do not have to become a victim of bill collectors’ relentless and abusive tactics to collect a debt. According to the Fair Debt Collection Practices Act, debt collectors must treat consumers fairly.
A debt collector can:
Contact you in person, by mail, telephone or fax.
Find out your personal information — including the balance in your bank account because most banks have automated systems. The collector has your social security number and may have access to your bank account number, which is listed on checks that were written to them for payment on your account.
Garnish up to 25 percent of your wages, unless you can prove it causes your family severe hardship.
Be granted a court order to freeze your savings and checking accounts.
A debt collector cannot:
Contact you at inconvenient times or places, before 8:00 a.m. or after 9:00 p.m.
Contact you at work if your employer disapproves.
Threaten you with violence or an arrest.
Use profanity or obscene language.
Contact a third party, like friends or relatives, requesting payments if they are not listed on the loan.
Deposit a post-dated check before the designated date.
Garnish social security and pension payments, because they are exempt.
If you don’t want a debt collector to contact you about payments on credit cards, personal loans or mortgages, you must send them a notice in writing. Sending the letter certified is recommended. After this step is taken, the only correspondence permissible is to inform you that collection efforts will cease or that a lawsuit is being filed against you.
Negotiate reasonable payments with the creditor and make those payments on time. Unfortunately, bad debt follows you for up to seven years and can negatively affect your ability to secure a car loan and mortgage, and in some cases, a job. Clear your good name and work on re-establishing your good credit score by being responsible for the debts you’ve created.
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