Being in debt is certainly harassing, but what about the collection calls from the debtors that follow? Well certainly, more troublesome! In most cases, it has been noticed that debt collectors resort to illegal and abusive means in an effort to recover the loaned amount from the debtor. Defaulting on your loaned amount is definitely a mistake, but not a crime and you hold every right to report any ill-treatment experienced by you.
The Fair Debt Collection Practices Act has been introduced to ensure a fair trial of the loan recovery proceedings and regulate the behavior and judgment of debt collectors. Under the act, debt collectors are restricted from using any illegal means such as threatening the debtor, abusing the debtor, misrepresenting information, or divulging information to any third party. If you are faced with such an experience then, knowing your rights would help you to a great extent.
Here is a look at what you must know –
The debt collector must always let you know about the amount owed by you. The creditor’s name, and the alternatives you have in hand if you might think that the information is misrepresented and you do not owe anything to the particular creditor. All this information must be made available to you within five days of initial communication.
If you tend to disagree with the debt then, never hesitate to take quick action by sending a letter to the collection agency within a month of receiving the initial communication. After receiving the letter, the agency is legally notified to stop contacting or harassing you. However, if the agency finds you in debt then, it must send a proven written notice to you stating the amount owed by you.
The debt collectors must not try to get in touch with you anytime before 8 in the morning and 9 in the evening. Additionally, the collectors must also stop calling you at work, as well. You also hold the right of stating the best time to call and t communication means to avoid harassment of any sort. In case, you have an attorney representing your case then, the debt collectors must always get in touch with the attorney over your case.
The debt collectors are also prohibited from misrepresenting information or themselves in an attempt to make you pay the loaned amount. Under no situation, the collectors can state you are a criminal or misrepresent them as employers from credit reporting agencies or the government.
If at any time, you feel your rights to be violated or have experienced any ill-treatment then, you can state report to the state’s attorney general or lodge a complaint with the Federal Trade Commission (FTC) against the abusive collection agency. You can log onto ftccomplaintassistant.gov and report your complaint over there. Additionally, you can also sue the collection agency or the collector in a state or feral court within one year from the initial violation date.