Turn the Tables on Debt Collection Agencies
Always remember that debt collection agencies are paid by their clients - the organizations on behalf of which they are collecting the debt
. This means that they should NEVER collect more than the amount which you owe to the company they are working for.
In order to collect due debts most collection agencies will use one of three tactics: letters, telephone calls, litigation. Typically, debt collection agencies will begin the collection process by sending a series of notification letters, often allowing the debtor to enter into negotiations to repay the debt. These letters are often called 'demand' letters. The final notification letter that is sent out generally warns the debtor that if no contact is made prior to a certain date then the debtor's name - whether it be an individual or a company - will be passed onto a more intensive method of debt collection.
Another advantage of using this type of debt collection service is that no matter how large the debt, you will only have to pay a flat rate fee of 50 pounds plus the VAT. This is a subscription based flat fee that is charged.
Use your answering service! Most phone companies provide a free (or very cheap) message-taking service. Get into the habit of not picking up the phone and let whoever is calling leave a message. When you listen back then delete the message as soon as you work out that it is from a debt collection agency.
A debt collection agent that visits your home has no right to speak to you and no right to enter your home. In the UK it is only bailiffs that can sometimes do this, and even they have no right to force entry into your home in most cases.
The original creditor or the collection agency may even sue you, or the original creditor can simply hire another third-party debt collector
In fact, there are laws, both state and federal. But they don't prohibit debt collection companies from calling you at dinnertime. A debt collector can't threaten or harass you, contact you at "inconvenient times or places," or tell others about your debt. Here's how you can fight unfair debt collection tactics, and stop your dinner from going cold.
The Act also sets forth that if you have an attorney, the debt collector may not contact anyone other than your attorney (provided that you give the debt collector the attorney's contact information). If you do not have an attorney, a collector may contact other people, but only to find out where you live and work if they do not already have that information. Collectors usually are prohibited from contacting third parties more than once. In most cases, the collector is not permitted to tell anyone other than you and your attorney that you owe money or any type of debt.
Unfortunately, more often than not, we turn to these guidelines after we have committed mistakes. It is when we need help to get us out in the rut that we take the time to consult and study the ways and means that should have saved us the trouble to begin with.
Turn the Tables on Debt Collection Agencies
By: Clair Ferguson
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