Many consumers are harassed by debt collectors every day. They can be intimidating and use fear to strike a sense of urgency in the debtor. However, dealing with creditors does not have to be like this and consumers have the right to protect themselves against unfair or abusive debt collection practices.
Off Limits
The Federal Trade Commission operates to protect consumers and investigate complaints made against companies that engage in abusive or intimidating practices towards consumers. The Unfair Debt Collection Practices Act has outlined a list of actions that are prohibited for use by creditors. Although many creditors still try to get away with certain actions, it is important for consumer to know which actions are considered off limits and how to protect themselves.
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Creditors must adhere to specific rules when contacting consumers. They cannot call before 8:00am or after 9:00pm; nor can the text, email or use social media sites as mediums for contacting a consumer. Further, debt collectors cannot misrepresent themselves as the creditor, an attorney or any other entity that conceals their identity as a third party collector. Debt collectors are prohibited from using deceit, threats or abusive language when attempting to collect a debt. Consumers are urged to contact the FTC if any of these actions are violated.
Protect Yourself
Preventing a creditor from making contact can be done. Most consumers are unaware that they can stop debt collection calls by simply negotiating directly with their lender. Contacting the lender to arrange a payment plan can quickly stop collection calls and attempts. Consumers also have the right to a 30 day debt validation period, in which the third party debt collector must provide them with written verification of the debt. However, this requires the consumer to contact the debt collector in writing and request debt verification. Once the verification has been ordered, debt collectors are not allowed to contact the debtor until the 30 day verification period has expired.
Another way to stop debt collectors is to file for bankruptcy. Once a bankruptcy petition is ordered an automatic stay order is issued, which prevents creditors from contacting the debtor. Any violation of this order could result in serious consequences for the creditor. Further, hiring a bankruptcy attorney can ensure the debtor is legally protected from debt collectors. A bankruptcy attorney can even mediate any interactions on behalf of the debtor, saving the debtor time and the hassle of dealing with creditors.
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