Receiving harassing calls from the debt collectors – this is something most debtors dread! When you fall back on the minimum monthly payments of your multiple credit cards, it is most likely that the credit card companies will go through the list of collection agencies and hand over your account to one such company. Selling off your account to a debt collection agency is the beginning of all your financial worries. You may start getting harassing calls from the collection agents and this may soon become an annoying and a frustrating experience. The debt collectors, the state regulators and the credit counselors all believe that ignoring and avoiding the calls of the debt collectors is always a bad idea. But how long are the debtors to tolerate the misbehavior and the threats practiced by them? Well, read on to know about some tactics that you may adopt in order to handle the credit card debt collection calls.
1. Avoid debt collection: Your credit card accounts are only handed over to the collection agencies when you have fallen behind on the monthly payments of your credit cards. Just don’t let this situation arise altogether. Try your best to manage your personal finances, live within your means, remember the due dates and make the payments on the right time so as to avoid falling back. Leave no stone unturned to repay your debts before they’re handed over to the third-party debt collector.
2. Get to know about the consumer rights: The FTC has passed several publications that have been designed to educate the consumers about their rights and the FDCPA (Fair Debt Collection Practices Act). Harassing calls during any point of the day, abusive language, threats and contacting your family and friends for your debt amount are all illegal and must immediately be reported to the FTC or the Federal Trade Commission. If you’re being subject to such phone calls, contact your State Attorney General and take the needed steps.
3. Ask for debt validation: They may send you letters or notices regarding your debt accounts and if you’re ignoring them, stop doing so. As per the FDCPA laws, the consumers are allowed to send written requests for debt validation. Debt validation is nothing but making sure that the debt that you’re being accounted for is actually yours. Don’t even bother to take any step towards your debt if you see that the debt account is not yours.
4. Safeguard all your bank accounts: If you really owe a particular debt amount to a credit card company and you have not paid it, the debt collectors can freeze your savings and checking accounts as this is one of the court-ordered options for debt collection. Sudden debiting of a lump sum amount from your checking account may become hazardous for your family budget. Therefore, you must safeguard your checking account and savings account so that you may come to know about any action that is taken against you.
5. Record your conversation: If abusive language is used against you, you must immediately record such conversations so that you have enough proof when you file a complaint with the FTC. Don’t tolerate anything that is not in regards to the FDCPA law as this is plainly illegal.
6. Get help from a professional company: Last but not the least, you can get help from a professional company like the non-profit debt counselors so that you start making your credit card payments through that company and the debt collectors stop harassing you thereby. Contact a debt counselor and get yourself enrolled within a debt management program so that you can breathe easy.
Before your credit card company glances through a list of collection agencies and sells off your credit card account to one of them, take the needed to steps to avoid such calls altogether. Manage your money so that you can repay your debts on time and avoid the harassment from the credit card debt collectors.