Your Debts And Debt Collectors
The Fair Debt Collection Practices Act (FDCPA) applies to personal
, family, and household debts. This includes money you owe for the buying of a car, for medical care, or for charge accounts. The FDCPA prohibits debt collectors from engaging in unfair, deceptive, or abusive practices when collecting these debts. Under the Fair Debt Collection Practices Act:
*Debt collectors may contact you just between 8 a.m. and 9 p.m.
*Debt collectors may not make contact with you at your workplace if they are aware that your employer disapproves.
*Debt collectors may not harass, oppress, or abuse you.
*Debt collectors may not lie when collecting debts, for example falsely implying that you have committed a crime.
*Debt collectors must identify themselves to you on the telephone.
*Debt collectors must stop contacting you if you ask them to do so in writing.
Solving Your Credit Problems
Your credit report can influence your purchasing power, and also your chance to get a job, rent or buy an apartment or a house, and buy insurance. When negative information in your report is accurate, just the passing of time can assure its removal. A client reporting company can report most accurate negative info for 7 years and bankruptcy information for ten years. Information about an unpaid judgment against you can be reported for 7 years or until the statute of limitations runs out, whichever is longer.
If you are having problems paying your bills, make contact with your creditors immediately. Attempt to come up with a modified payment plan with them that lessens your payments to a much more manageable level. Do not wait until your account has been surrended to a debt collector.
Listed below are some more ideas for solving credit problems:
*If you want to dispute a credit report, bill or credit denial, write to the appropriate company and send your letter "return receipt requested."
*When you dispute a billing error, contain your name, account number, the dollar amount in question, and the reason you believe the bill is incorrect.
*If in doubt, request written verification of a debt.
*Keep all of your original documents, especially receipts, sales slips, and billing statements. You will need them if you dispute a credit bill or report. Send copies only. It might require more than one letter to fix a problem.
*Be skeptical of businesses that provide instant solutions to credit problems: There aren't any.
*Be persistent. Resolving credit problems can take some time and patience.
*There is nothing that a credit repair company can cost you for that you can't do for yourself for little or no cost.
If you are not disciplined enough to make a workable budget and stick to it, come up with a repayment plan with your creditors, or keep a record of mounting bills, consider contacting a credit counseling organization. Several credit counseling organizations are nonprofit and assist you to solve your financial problems. However not all are trustworthy. For example, simply because an organization says it is "nonprofit," there is no guarantee that its services are free, affordable, or even legitimate. In fact, some credit counseling organizations charge high charges, or conceal their fees by pressuring customers to create "voluntary" contributions that simply bring about much more debt.
by: James Lockwood.
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