Posted on
November 4, 2009
at
4:12 am
is it safe to be talking to debt collectors? i have been getting calls. ive ignored them for a week now -- i just dont know what to tell them? can you help me?
Posted on
November 4, 2009
at
4:15 am
Hey, you've come to the right place!Talking to debt collectors shouldn't scare you. They know that they have this obligation to send you a letter 5 days after they've spoken to you. So pick up that call and tell them that you're expecting that letter. It contains your debt amount, your creditors information, and what you can do to have that debt validated.Don't worry they'd give you time although if that's not your debt, be careful not to admit it. Or volunteer to pay for it.
Posted on
November 4, 2009
at
4:17 am
Talking to debt collectors -I agree, don't be intimidated by them. They know that it is against the law to threaten or harass you.You might want to read on your rights here:http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre18.shtm
Posted on
November 4, 2009
at
4:20 am
Talking to debt collectors -Speaking of the FDCPA if the collectors have been proven to have violated its rules, they can be fined $1,000 plus damages and those would go to you.However, if you owe the debt, that doesn't go away until you've paid it.
Posted on
November 4, 2009
at
4:22 am
Talking to debt collectors -You also have to check your state's statute of limitations on collections here-http://www.fair-debt-collection.com/SOL-by-State.htmlAn expired SoL could mean freedom from being sued for you.
Posted on
November 4, 2009
at
4:25 am
Talking to debt collectors -You may also want to find out what type of collection agency is contacting you there is: 1) those assigned accounts directly by credit card companies. 2) The other type are debt buyers. They can be very aggressive as they've bought your debt for a very cheap price. That also means that you could settle with them for a lesser price, they won't tell you that though.
Posted on
November 4, 2009
at
4:44 am
Talking to debt collectors - and bankruptcyAnd if ever somebody suggested for you to file bankruptcy, don't listen to them, not unless the collection agency (their attorney) has given you a letter stating their intention to take legal action against you. If you don't come to an agreement with them and it they sue you, you can file bankruptcy and avail of the automatic stay.Otherwise, negotiate.
Posted on
November 4, 2009
at
4:46 am
Are debt settlement companies talking or are able to talk to debt collectors/attorney's even after they have taken legal action against the consumer?
Posted on
November 4, 2009
at
4:47 am
Are debt settlement companies talking or are able to talk to debt collectors/attorney's even after they have taken legal action against the consumer?I think so..did you mean, "Do debt collectors/attorney's settle debt?"
