Stop Debt Collectors Cold and get Back on Your Financial Feet

Written by John Ventura, Gerri Detweiler


As a consumer law attorney who counsels people with debt problems, I’ve heard my share of horror stories about debt collectors. For example, a college student client was threatened that she’d be arrested if she did not pay a credit card debt, and another client was called 12 times in one day at work about a debt that was 14 years old. If they knew their rights, these people could have avoidedrepparttar emotional stress they experienced atrepparttar 112621 hands of aggressive debt collectors.

This article provides you with an overview of those rights so you don’t have to suffer like my clients did. You don’t have to put up with abuse from debt collectors! Despite what they may tell you, debt collectors cannot put you in jail, make you lose your job, or ruin your credit forever if you don’t pay a debt. The federal Fair Debt Collection Practices Act (FDCPA) sets very strict limits on what debt collectors can and cannot do. Those limits include when they can call you, what they can say and what they can do to collect a debt.

The FDCPA in a Nutshell

The FDCPA applies to outside debt collection agencies, but not to creditors collecting their own debts. However, your state may have a law that applies to in-house debt collectors. Call your state attorney general’s office to find out.

Among other things,repparttar 112622 FDCPA says that debt collectors cannot:

· Lie to you, use racial slurs or insults, or threaten you with violence. · Call you repeatedly, or call before 8 a.m. or after 9 p.m. · Call you at work if you've told them you can’t accept their calls onrepparttar 112623 job. · Contact your employer about a debt unlessrepparttar 112624 debt collector is trying to collect past due child support payments from you. · Tell others about your debt. · Garnish your wages without taking you to court first. · Make false statements, such as telling you they will ruin your credit “forever”. They can’t.

You haverepparttar 112625 right, within 60 days of first being contacted by a collector, to ask for written proof ofrepparttar 112626 debt, andrepparttar 112627 debt collector must provide it. Be sure to ask for proof if there is any question that you owe a debt or if you need time to figure out how to pay a debt you know you owe. Keep careful notes regarding each conversation you have with a debt collector, and copies of all correspondence to and fromrepparttar 112628 collector. These records will be helpful if you need to sue a debt collector.

How Your Credit Report Affects You

Written by August Malson


I never thought much about my credit before. It wasn't until I was inrepparttar process of buying my first home was my credit really called into question. When I first spoke with my mortgage lender was first real wake up call I had. He then proceeded to give me some useful information about credit that I would like to share with you.

There are three major different credit reporting agencies. They are Experian, Equifax, and Trans Union. Each of these agencies contain seperate reports on your credit history. Important to note is that these agencies do not sharerepparttar 112620 information they have between themselves, and your creditor might not send your information to all three.

Your credit report would containrepparttar 112621 following information: * Name * Current and Previous Address * Current and Previous Employer * Date of Birth * Any other variations of your personal information (other SSN, Nicknames, etc.) * Account Information * Public Information (Bankruptcy, Judgements, Liens, etc.)

Your credit score is created from information from your credit report. The more positive information that you have on your credit report,repparttar 112622 higher your score, andrepparttar 112623 opposite is also true. The higher your credit score is, thenrepparttar 112624 lower interest rate loans that you can recieve for purchasing a home, getting new credit cards,and you get treated like $1,000,000 when you are atrepparttar 112625 bank. However, if your credit score isn't that high, your interest rates will be higher, or you might even be denied forrepparttar 112626 loan. Now, I know what you might be thinking, how bad can a high interest rate be? For instance, a 1 or 2 point difference in an interest rate can be a difference of $100 or more per month.

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