No one likes to get the call from a creditor. They can be abusive, intimidating and even threatening. A common strategy for dealing with creditors is to ignore their calls and collection attempts. While this strategy may provide you with peace and quiet, it is a harmful strategy that will likely cause more trouble in the end. Resolving your debts should be on your list of priorities, but that does not mean you need to face nasty creditors to do so.
Direct Communication — many people do not realize they have the right to negotiate their debts with their creditor directly. Creditors use collection agencies in order to make the collection efforts easier on them, but you are not required to communicate with or negotiate with a third part creditor. Credit card negotiations can be done privately between you and your creditor, all you have to do is contact them.
Contacting The Authorities — there have been new laws enacted to better protect consumers from abusive and threatening debt collection practices. In the past, the problem was that enforcing old laws was nearly impossible and many consumers did not know how to fight back. These days, the Federal Trade Commission has improved policing efforts and encourages consumer to file a complaint if a debt collector acts in any of the following ways:
- Uses abusive, threatening or violent acts or statements to coerce a payment
- Harasses a consumer by repeatedly calling or making collection efforts public
- Calls after 9:00pm or before 8:00am or uses social media sites to contact consumers
- Misrepresents themselves or the debt that is owed
- Makes false or misleading statements about debt owed
- Tries to communicate that garnishment or legal action can result from unpaid debts
- Attempts to collect on a debt from a person other than the debtor themselves