When you get a call from a debt collector it is because you have a bill that has gone unpaid for several months. If you have ignored the letters from the company that you owe money to, and have made no attempts to contact them or endeavor to pay the bills, you are considered a bad debt.
Debt collection agencies are hired by a company to collect the money owed to them. Debt collectors are more aggressive in their efforts, as they know that you have in all ikelihood been avoiding any contact with the company, and are likely to ignore their efforts as well. To a debt collector, you are not a customer. You are now called a debtor. This is not something to be proud of, or sought after, and you should try to remain a paying customer before it gets to this stage.
Debt collectors are often permitted to report your information to the credit reporting agencies. These are the people responsible for tracking your bill-paying habits. Your credit record is used to indicate how good you are at paying your bills, and is referred to by mortgage companies, car dealers and other finance companies to determine your credit-worthiness.
Generally, there is no escaping debt collectors, who use a number of methods to find you - even if you move house. They will even go so far as to call neighbors or your employer to track you down. Yes, it is annoying and can even be humiliating. But that's their job. They have been hired to collect the money that you owe.
Because there are Federal regulations governing the debt collection industry, their treatment of you should follow a particular code or guideline, although of course there are some agencies who will flaunt these regulations. If you believe that you do not owe money to the original company, you should contact them immediately.You can also try working with the debt collector to work out the confusion. Whether you are in the right or not, keep a detailed copy of all paperwork and any communication between the company or debt collectors and yourself.
One of the tenets of the federal law governing the debt collection industry is that agencies may not use threatening tactics to get you to pay the debt. Report this violation of the Fair Debt Collection Practices Act to your local Better Business Bureau immediately.
Debt collection agencies are hired by a company to collect the money owed to them. Debt collectors are more aggressive in their efforts, as they know that you have in all ikelihood been avoiding any contact with the company, and are likely to ignore their efforts as well. To a debt collector, you are not a customer. You are now called a debtor. This is not something to be proud of, or sought after, and you should try to remain a paying customer before it gets to this stage.
Debt collectors are often permitted to report your information to the credit reporting agencies. These are the people responsible for tracking your bill-paying habits. Your credit record is used to indicate how good you are at paying your bills, and is referred to by mortgage companies, car dealers and other finance companies to determine your credit-worthiness.
Generally, there is no escaping debt collectors, who use a number of methods to find you - even if you move house. They will even go so far as to call neighbors or your employer to track you down. Yes, it is annoying and can even be humiliating. But that's their job. They have been hired to collect the money that you owe.
Because there are Federal regulations governing the debt collection industry, their treatment of you should follow a particular code or guideline, although of course there are some agencies who will flaunt these regulations. If you believe that you do not owe money to the original company, you should contact them immediately.You can also try working with the debt collector to work out the confusion. Whether you are in the right or not, keep a detailed copy of all paperwork and any communication between the company or debt collectors and yourself.
One of the tenets of the federal law governing the debt collection industry is that agencies may not use threatening tactics to get you to pay the debt. Report this violation of the Fair Debt Collection Practices Act to your local Better Business Bureau immediately.
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