Already on ArticleSlash?

Forgot your password? Sign Up

Managing Debt Collectors

 


Visitors: 202

Debt collectors have a job to do and they are paid accordingly as a percentage of the amount of money that they recover from you. Obviously it is in their best interest to recover as much money as possible and many of them will resort to all sorts of tactics in order to extract funds from you whether you can afford it or not.

Debt collectors are also aware that the majority of people don't know the laws as they stand with their powers of collection and the rights you have that cannot be violated.

They are only allowed to contact you between the hours of 8am and 9 pm and if you send them a written letter not to contact you again in relation to a particular debt they have to abide by that request and can only contact you again to inform you of any further action they will take in the recovery of the debt.

They cannot contact you at your place of employment if you inform them that this is not allowed and they are not allowed to contact you excessively as this is classed as harassment. Obscene or insulting language is also not allowed although many debt collectors will use such tactic to intimidate people and get them to pay more than they can comfortably afford.

Many debt collectors will buy your bad debt off your creditor and then it is up to them to recover their money from you so they can get quite aggressive in their recoveries. If you are in a position where you are expecting a debt collector, know your rights and don't allow them to ‘bully’ you into making a payment that you can't afford.

Sometimes you will be able to discuss an arrangement with them to pay off the debt and this is obviously the best solution as they will get their money eventually and you will be able to pay it back at a rate that your budget has determined most suitable.

Always try to work through your money problems with those involved in an amiable manner as this is usually where you get the best deals that will keep both parties happy.

Carson Danfield is an “Under the Radar" Internet Entrepreneur who's been quietly selling various products for the last 8 years.

For more useful info and tips for debt management , be sure to visit : - http://www.info5000.com/DEBT-MANAGEMENT

(420)

Article Source:


 
Rate this Article: 
 
Self-Defense Against Debt Collectors
Rated 4 / 5
based on 5 votes
ArticleSlash

Related Articles:

Debt Collection Letters Piling Up - Creating Anxiety? Stop Debt Collectors with .

by: Tammy Ames (January 18, 2007) 
(Finance)

Debt Consolidation Services - How Best To Control Debt Collectors

by: Ian Wilkie (August 03, 2007) 
(Finance/Debt Consolidation)

Negotiating With Debt Collectors the Right Way

by: Richard T. Tyler (June 30, 2008) 
(Finance/Debt Management)

How You Can Deal With Debt Collectors

by: Wm Blake (January 14, 2007) 
(Finance)

Relief From Debt Collectors

by: Daniel Cho (July 15, 2008) 
(Finance/Debt Relief)

Negotiation With Debt Collectors - What You Must Know

by: Manny Vetti (February 11, 2008) 
(Finance/Debt Relief)

How You Can Deal With Debt Collectors

by: Michael Geoffrey (February 18, 2007) 
(Finance)

How to Deal With Debt Collectors

by: Ward Willison (January 09, 2007) 
(Finance)

How to Beat Debt Collectors

by: Josh Ramos (July 07, 2008) 
(Finance/Debt Relief)

Self-Defense Against Debt Collectors

by: Ward Willison (January 21, 2007) 
(Finance)