Posted on August 27, 2009 at 4:36 am How to handle debt CollectorsFirst, who are these debt collectors? Are they one and the same with the creditors? The answer is no, but the creditors if the accounts are not yet past due, act as collectors too. Debt collectors are usually a third party collection agency that buys consumer debts from the creditors. They train their agents for their search and destroy (in this case, just really make the consumer pay) operation.If the consumer doesn't have an idea as to what his/her rights are under the FDCPA or Fair Debt Collection Practices Act. ... the debt collectors win. They will attempt  to have you admit to a debt that has probably expired in your states via their sneaky ways-they can revive formerly dead debts-with your consent. According to the FDCPA, debt collectors may not just contact you whenever wherever. They can't contact you before 8am in the morning or 9pm at night, unless you okayed it. Can they contact you at work? If you tell them in writing or even just verbally to not contact you at work, then they may not do so.If you think that your rights have been violated contact Ftc.gov or call 1-877-FTC-HELP

Posted on August 27, 2009 at 4:42 am Is there a difference on how to handle debt collectors when you really owe the debt and when you don't owe the debt?Yes. If you don't owe the debt, either it's a mistake, or via the expiration of the statute of limitations on debt collection in your state, you have to write them a cease and desist letter stating the said fact. But if you owe the debt, after the first contact, via the phone, and within 5 days after that, know that debt collectors are required to send you a written validation notice with the amount of money you owe. That notice should include creditors information, and what you can do if you don't think you owe those debts.

Posted on August 27, 2009 at 4:47 am Does the FDCPA cover all debt types?

Posted on August 27, 2009 at 4:49 am I think the FDCPA covers most debt types except for business debts. I'm not too sure.Debts like credit cards, automobile loans, personal loans, medical expenses and mortgages are all covered under the Act.

Posted on August 27, 2009 at 5:06 am How to handle debt collectors when they say that they are going to garnish your wages or levy your accounts?Can they say those things to the consumers?

Posted on August 27, 2009 at 5:16 am How to handle debt collectors when they say that they are going to garnish your wages or levy your accounts?Tell them that without a judgment against you from the court, that's not going to happen. They may only garnish your wages or levy your bank account via a judgment that you would be given time to defend or a default judgment (for some reason you were not served a notice or you just did not respond to it on time). Can they say those things to the consumers?No. That would fall under false statements.

Posted on August 27, 2009 at 5:19 am Just to add to Justice's comment on judgment, no court judgment is required to begin wage garnishments on federal student loans.How to handle debt Collectors?Show them that you know the FDCPA guidelines. If you can recite it to them, the better. Especially the part in which they have to pay you for damages and $1,000 if they're found to have violated those guidelines.

Posted on August 27, 2009 at 9:40 am "...Debt collectors are usually a third party collection agency that buys consumer debts from the creditors..." I stopped reading here, because this is blatantly wrong.  For some reason there is this myth in the debt collection business that consumer debts are sold rapidly each and every hour like day trading on the stock market.  This could not be farther from the truth, it is actually a pain in the rear end to assign someone your receivables, and it usually requires an attorney and the process is pretty exhaustive. Generally speaking the original creditor HIRES a debt collection agency or a debt collection attorney to act on their behalf.  Thats why if one gets served with a summons it will read in the caption Capital One Bank V Joe Blow You will know if you debt has been purchased because the caption will read something more like David And Associates As Assingnee to Chase Manhatten Bank v Joe Blow Just trying to educate the masses.

Posted on August 27, 2009 at 9:46 am oh and in response to Justice's comments about judgments, the national average for default judgments is 1 out of every 3 people.  So I doubt that the reasons for that many default judgments are "you weren't served with notice, or did not respond in time."  Some people just don't care, or know they have no defense and don't appear.

Posted on September 10, 2009 at 10:22 pm Does the FDCP cover all types debts?