5 Points to Remember When Dealing With Debt Collectors

The problem with Debt Collectors is that they have the tendency to be aggressive in terms of tracking customers down and make them pay their debts. Not knowing your rights can be detrimental and it is up to you to find out what you can and what you cannot do when dealing with collector debt.

This article will discuss what these credit card debt collectors can and cannot do in order to help you handle any similar situation better.

Complying with the Fair Trading Act

According to the Fair Trading Act, debt collectors must refrain from undue harassment or coercion. While they may take reasonable steps in order to collect the money, they cannot, under any circumstances, intimidate, threaten or aggravate customers to get the money. If you have been victimized, then you have the right to file a complain and seek legal steps against the person or the agency.

Intimidation Through Legal Action

Now, unless the court has granted your credit card debt collector to do so, he cannot threaten to take legal action against you or forcibly seize your assets. In fact, customers are not legally obligated to let a collector inside your house. It is only when the court gave the collectors rights to sell your assets to pay off the money you owe will they be able to do so. However, this ruling is usually applicable only in mortgage-related debts.

Privacy Rights

The collector debt cannot invade your privacy by asking personal information such as your bank account details, driver license number, etc. If this is the case for you, file a police report immediately and consult with an attorney or a financial adviser before you speak with that collector.

Misleading and/or False Representation

Collectors cannot claim they are government agents, use fake names or create a false sense of how much money you really owe. If your collector is found guilty of misleading and false representation, he will face harsh penalties for it.

Using Verbal Abuse Or Violence

Credit card debt collectors are restricted to use harassment and verbal abuse to force people to pay their debt. This may include repeated telephone calls, with the intention to aggravate, abuse, and blackmail the person on the other line. Any violent behavior must be reported to the authorities.

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