Once people find themselves caught in a debt circle, it could be very hard to deal with knowing that they own and have to return a big amount of money. It is even harder when collectors are calling them to request the amount that customers have to return. However, the good news is that borrowers still have rights, even when they have to return a great amount.
The Fair Debt Collection Practices Act (FDCPA) is created to defend consumers from unfair behaviors regarding to the debt collectors practice and habits. It is significant to understand and know your rights as a consumer and that you are protected under FDCPA. If you as a borrower find something bothering from your debt collector side you should report it, immediately, because it is you right.
Borrowings Defended By FDCPA
It is not a secret that almost every individual, family and household has a debt. Actually, nowadays, the process of borrowing money from some institutions has become a wide practice and because of that people should know that every debt or loan is protected under a law. Everything is protected, for example your leasing, your mortgage, even your credit card. All of that and any other type of loan or debt is protected under the Fair Debt Collection Practices Act, against any type of violation from those who collect your dept.
For example there are many types of institutions that may collect your debt. For instance collecting bureaus, lawyers or even businesses that purchase delinquent liabilities all are authorized and called debt collectors.
How to Avoid the Calls from the Debt Collectors?
Having a debt could be really stressful, because you have to pay a certain amount of money on a certain date. Apart from this you will have to pay all the others regular bills. Anyway, there is a still possibility to postpone your debt for a while as well as to avoid the calls from the debt collectors. All you have to do is write a letter to stop the annoying calls. Write this letter and send it by the certified mail, keep a copy of it for yourself and the calling will stop. Most consumers don’t know about this option which makes them more stressful.
Once the debt collector obtains this note, the only contact that can be made with you is to announce you that no further activity will be taken, or to let you understand that further activity is approaching (such as a lawsuit). You can also stop the communication by designating a representative. If you make it clear that an advocate is representing you regarding your debt, the debt collector must communicate him or her, rather than you, to make arrangements.
Checking the Debt
There are a lot of cases when people are in debt and have to pay it, but do not even know about it. That is why, it is a responsibility and obligation for the debt collector to send their customers’ information about everything important. The usual procedure is that the debt collectors should send a letter within five days from the day that they have called the customer. This would be a verification letter. The letter should contain information about how much you owe, the name of the collector or the institution that you have borrowed money from and some steps that you can take if you do not accept that you owe the money.
It’s very important to keep all the important documentation related to this letter, for example the contact details and the date when you have received the letter. Also, you might have the right to request the correct documentation of your debt. Of course, part of these documents is the copy of the bill that you will have to pay and you can ask for it too.
The Things That the Debt Institutions and the Collectors Can’t Do
Until a few years ago, the collecting institution had some extreme measures to collect their money. It is actually quite scary, because they appeared at the customer’s door asking for money, even if there is no a debt or the borrowers can’t pay. Here are some practices that are forbidden to debt collectors:
- Applying aggression against you;
- Using a rude language while talking;
- Publicly humiliating by announcing a list of persons who haven’t paid (although this data can be granted to your attorney, spouse and the credit bureaus).
- Making untrue statements, including asserting they represent the government or some other association that they don’t, and misrepresenting the allowance of cash that you owe.
- Implying that you will be arrested or a warrant will be issued if you don’t pay your liabilities.
- Making an early down payment for a post-dated check.
- Threatening to take your house or garnish your salaries (unless allowed by regulation in your state) without a correct court alignment.
- Calling you at inconvenient times, encompassing before 8 a.m. or after 9 p.m. your time.
While you should repay your debts when you can, there is no reason to bow to harassment. You do have rights, and you should make certain you understand them.