Your first line of defense is knowing what to say and what to avoid saying in any communication with a debt collector. Don't let a collector that contacts you by phone catch you off guard: put the ball back in the collector's court by asking the caller these key questions: The caller'...
Disclose your debt to anyone else, such as a coworker Debt collectors are also strictly prohibited from harassing, threatening or verbally abusing you. If a debt collector breaches these regulations, remind them of the FDCPA. You can alsofile a complaintwith the Consumer Financial Protection Burea...
One of the easiest ways to tell if you’re dealing with a legitimate debt collector is to check if the collector is following the rules set under the FDCPA [*]. Under the act, debt collectors cannot: Use deceptive, unfair, or abusive practices when contacting you about credit card, mortga...
When dealing with a debt collector, don’t rush to pay or promise to pay. Instead, check the facts, know your rights around communication and report violations.
Common Types of Consumer Debt That Go to Collections Any bill can go to a collection agency. Your best friend could hire a debt collector for the money you owe, unlikely as that is. If the money you owe does end up with a debt collector, the most likely suspects will be past due bil...
A legitimate debt collector usually provides debt validation through a letter before they reach out via other communication channels. The information a debt collector must validate includes: The name of the creditor. The amount owed. The procedure to dispute the debt. ...
…And How to Fight Back Falling behind on bills is stressful. But when a bad debt collector breaks the law and is abusive or harasses you, things can quickly go from bad to worse. A strong federal law, the Fair Debt Collection Practices Act (FDCPA), protects consumers against unfair, de...
the debt, name of the creditor and a statement stating they have 30 days to dispute the validity of the debt or the debt will be considered valid by the debt collector. Failure by the consumer to dispute the debt within that 30-day time period is not considered an admission of liability...
Debt collection practices can be aggressive. But when a third-party debt collector contacts you about your debt, there arerules and regulationsthey have to abide by, according to the Consumer Financial Protection Bureau (CFPB). First, they’ll have to tell you the original creditor that turned...
1. "Verify it's a real debt.Before you fight back, make sure you recognize it. It could be a fake debt collector calling. Also get a copy of your free credit report atannualcreditreport.comto see if the debt is listed there. If your zombie debt is a result of identity theft, you...