Why You Should Answer the Phone When the Debt Collector Calls
With roiling unemployment rates, foreclosures at an all-time high
, and the U.S. economy still in turmoil, more Americans than ever before feel like they're drowning. Perhaps it's because they're underwater in their mortgages or maybe because they're forced to hang their hopes on what at times appears like a do-nothing Congress to extend their unemployment benefits. For these and myriad other reasons, everyone is doing everything they can to just stay afloat.
Unfortunately, debt collection agencies understand that people are more vulnerable than ever, and can use this knowledge to try and take advantage of consumers. Already beaten down, consumers are often further victimized by unscrupulous debt collectors. Knowing that you're behind in paying your bills is one thing; being hounded and harassed by debt collection agencies adds insult to injury.
But as tempting as it might be to ignore debt collection calls and letters, it's in your best interest to answer the phone when a debt collector calls. Why? For one thing, knowledge is power. When you answer the phone, you gain valuable information that can work to your advantage. That may be difficult to believe, but keep reading.
The debt collection industry is regulated by the Fair Debt Collection Practices Act, a federal law that outlines what constitutes legal and illegal debt collection behavior. When a debt collector violates the FDCPA, you have every right to sue the agency in federal court. When you do, there are several possible outcomes. Often, the case is negotiated out of court, which means that you could get a cash settlement or that some or all of that specific debt could be wiped away. If your case goes to court and the judge finds in your favor, you could receive an award of up to $1,000.
Before you protest that, if you could afford an attorney to take a debt collector to court then you could afford to pay the debt, you should know that the FDCPA says that, if the court finds in your favor, the collection agency that violated the law must pay your attorney fees. That's why reputable fair debt attorneys don't charge to represent you; they do get paid, but they get paid by those who violate the law.
What's this have to do with answering the phone when a debt collector calls? Keeping a log of debt collection calls, including the dates and times of the calls, the person calling, and what was said, is an important first step in establishing a violation of the FDCPA. When you answer the phone and speak to a debt collector, you can start to gather evidence of any wrongdoing. It's against the law for a debt collector to threaten you, to call to the point of harassment, to call and hang up repeatedly, to call you at work if you've indicated that you don't want to be contacted there, and to call early in the morning or late at night. There are a number of other behaviors that are also illegal under the Fair Debt Collection Practices Act. It's important to know your rights, to contact a fair debt attorney, and to hold unethical debt collection agencies accountable for their actions.
Why You Should Answer the Phone When the Debt Collector Calls
By: Sergei Lemberg
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