Is there anything worse than being a victim of collection harassment, being hounded continuously by a debt collector? Many consumers are not aware that certain harassing activities may be deemed illegal. Knowing what is considered illegal can help a great deal with any situation involving the collection of a debt.
When a borrower incurs debts that he or she is not able to repay as agreed upon, the lender will often resort to doing whatever it takes to recoup as much of the borrowed amount as possible, if not all of it. To insure repayment, interest rates are applied. Interest rates are generally set at higher levels for customers that are pre-assessed to be at a greater risk of missing or defaulting on repayments of the borrowed or credited amount. Yet sometimes even low-risk customers can incur unexpected setbacks, perhaps due to loss of a job or unexpected medical expenses that quickly put them behind in their financial obligations.
While businesses do have the right to pursue money lent in good faith that isn’t being repaid as promised, these businesses to not have the right to engage in abusive, deceptive or unfair debt collection practices. The Federal government has recognized the need to put laws in place to protect consumers from such practices which are now deemed illegal. Not everyone always knows that these laws have been in place since 1996 when the Fair Debt Collection Practices Act was passed as an amendment to the Consumer Credit Protection Act of 1968.
Becoming aware of these laws will allow you to know what debt collectors can and cannot do to collect a debt. A debt collector is not allowed to do the following things:
- Call your place of employment
- Call your home before 8 in the morning or after 9 at night
- Be abusive towards you while trying to collect the debt.
- Contact any family member or friend.
- To harass you.
- Make untrue claims and statements that are intended to mislead you.
- To add any charges that are unauthorized.
If any of these things have happened or are happening to you right now then you need to look into hiring a lawyer. Just make sure you are keeping a written log of the abusive and harassing events. Thanks to the Fair Debt Collection Practices Act you have the ability to stand up for yourself in these matters. Debt collectors do not have free range to treat you any which way they like. And if you have asked them repeatedly to stop and they haven’t you have the right to take matters into your own hands. Don’t allow debt collectors to frustrate and constantly harass you.
There are laws in place that were created to protect you from collection harassment; be sure to investigate and use them.