According to a report by the Alliance Group, 39% of complaints at the Federal Trade Commission (FTC) deals with debt payment demand that was not owed at all! Sometimes, creditors ask for more payment than what is legally allowed.
Despite the enforcement of the Fair Debt Collection Practice Act (FDCPA), which prohibits debt collectors from deceptive collection practice, some creditors could not care less. They seem to believe that due to lack of time or awareness, debtors would not knock at the doors of the court.
So, if a collection agency calls you repeatedly or uses abusive language, you must consider putting an end to this kind of mental harassment immediately.
Here are some useful tips you can use against collection agencies to stop the annoying bill collection harassment tactics:
1. Keep a record of all the telephone calls
The first step to stopping creditor harassment is to document every interaction with your creditors. Make sure that you note down the date, time, the name of the person you spoke to and the company they called from.
Furthermore, you must note down the precise conversation you have had with the creditors. You can record the telephone conversation.
2. Seek legal help
Contacting an attorney and filing a complaint is another option. Your attorney can contact the creditors and instruct them to direct all calls to him.
However, you must make sure that you find an experienced attorney who knows how to deal with creditors. A consumer attorney will even advise you on the appropriate course of action. He can even represent you in court.
3. Send the Creditor a written requests
You can also send the debt collectors a written request and ask them to desist from calling at your home or workplace. Let them know that you are aware of the Fair Debt Collection Practice Act.
This law can be enforced against creditors who continue to harass you even after you send the letter. Keep a copy of the letter as well as the signed return receipt for your records. You will need it as a piece of evidence if you decide to initiate a lawsuit.
4. Negotiate with your creditors if you get the opportunity
There might be an opportunity to reason out with the creditor. Exploit every such opportunity, be it via phone calls or personal meetings.
The creditor might be open to discussions on a debt repayment plan, or even a full payment of the debt at a future date. Negotiation with creditors might help in reducing the interest rate while paying off debts.
Creditor harassment is one of the most unpleasant experiences anyone can ever come across in his life. Do what you can to stop it, even it means hiring a lawyer.