Archive for the ‘Featured’ Category

Posted on April 1, 2010 - by admin

Debt Collectors

With the financial events that are going on today, it is not uncommon to fall behind on payments. If you have past due mortgage payments or credit card payments that are overdue, then you have probably already had that call from a debt collector.
You cannot not hide, so just fact up to the fact and talk realistically with your creditors.  If you call them first and explain your situation, you can avoid that call from the collections department altogether.  Know that you are not the only one in this predicament so ask the bank or lender if you can stretch out your payments and so you are able to pay a little less each month. You never know until you ask as to what answer you will get. 

If you do get that call you should now that there are laws for this type of call.  These collections agencies cannot be abusive and they cannot harass you or threaten you in any way. They are also not allow to say they will add to your debt with any type of arbitrary fees. You can also write a letter to them asking for them not to call you although this will not cover all efforts to collect a debt but there could be laws in your state that can protect you. Find out what they are.