Debtors Rights
Posted on
September 4, 2009
at
3:13 am
I was reading about the debtors rights and came across this amusing term the "Mini Miranda" -- I used to watch NYPD Blue, The Practice, and Law & Order SVU that's why it's amusing. In debt collection, whenever a debt collector contacts a consumer, the "MIni Miranda" must be recited. Just like when police officers arrest a suspect. If the collector fails to recite or impart its meaning, the consumer has a right to sue: "Hello, I am _________(name of collector). I am (or this office is) a debt collector representing____________(creditor). Information obtained during the course of this call will be used for the purpose of collecting the debt."
Posted on
September 4, 2009
at
3:23 am
Debtors rights as per FDCPA:-Debt collectors may contact you before 8am in the morning or 9pm at night, unless you've given your consent. -They may not contact another person and discuss your debts with them unless they're just asking for your contact details (which they already have) or your whereabouts.-If you write or tell the collector to not contact you at work, they may not do so.
Posted on
September 4, 2009
at
3:27 am
Some more debtors rights: After the first contact or phone call, debt collectors are required to send you a written validation notice stating the amount you owe within 5 days. It should also state the name of your creditors and what you can do if you think that there's been a mistake and you don't owe anybody anything.
Posted on
September 4, 2009
at
3:34 am
Basically, the Fair Debt Collection Act is in response to unfair practices that many collection agencies employ. Consumers are encouraged to learn their (debtors) rights.To add to what the previous posts have stated, debt collectors may not:-tell you that you'd be arrested if you don't pay -that they'd sue you if they don't intend to-that your property will be put on sale to pay for what you owe, that your wage will be garnished, or your bank account levied -- if they have not yet taken it to court.
Posted on
September 4, 2009
at
3:40 am
To contribute to this debtors rights thread: debt collectors may not attempt to collect more than what the consumer owes in interest or fees, unless the state law allows those charges, debt collectors cannot deposit a post-dated check before the date indicated on the check, and cannot contact the consumer by postcard.
Posted on
September 4, 2009
at
3:46 am
What happens if the debt collector is found guilty of breaking the debtors rights?
Posted on
September 4, 2009
at
3:52 am
What can the consumers do or where can they run if their debtors rights were violated?
Posted on
September 4, 2009
at
3:57 am
Consumers can sue the collector in the state or federal court -- anytime within a year -- when the violation occurred, but the consumer would have to first prove that it happened. The judge then would order the collector to pay the consumer $1,000 and would obligate a reimbursement of attorney fees and court costs.
Posted on
September 4, 2009
at
4:04 am
Just a reminder, even if the debt collector was proven to have violated the consumer's (debtors) rights, the debt remains. It is still owed. That is if it's also proven that the consumer owes it. If it's validated.The question to ask now is how to eliminate that debt? If it's credit card and it amounts to more than $10,000, the consumer may enroll in a debt settlement program. The program can reduce the balance to more or less half and the consumer can be debt free in 12-36 months.Destroydebt.com offers a free consultation. If you want to get matched up to the right company or debt relief program, do fill out a form and have a debt consultant contact you.
Posted on
September 5, 2009
at
12:01 am
haha,...i experience that all the time.. its their bible man... those were the times when i had my IRS debts so high...luckily i found this site..they helped me with my debts...www.protaxcare.com
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