Getting phone calls and correspondence from debt collection agencies can be stressful for residents of Garnerville. Every time a letter is received or a voice mail message is left a debtor may feel like he is one step closer to being sued for the repayment of his outstanding credit card obligation. However, there are limits on what collectors may do to obtain repayment of delinquent loans. This blog post will touch on just a few of the limitations they face with regard to their collection practices.
Credit card companies and the entities that they employ to pursue the collection of credit card debts are bound to act according to certain legal standards. They generally may not contact debtors in the late hours of the night or early hours of the morning. They cannot require debtors to speak with them; in fact, if a debtor sends a collection agency a letter asking it to cease communications with him the collection agency is bound to do so.
Additionally, collection agencies and groups must be honest in their dealings with debtors who owe on credit card balances, medical debt and other outstanding loans. They may not use threatening or profane language to intimidate debtors into making payments and they may not lie about debt amounts, consequences or other aspects of the debt collection process. They may not tack on penalties, fees or other charges to a debtor’s outstanding obligation that were not contemplated and agreed to in the debtor’s agreement with his credit card company or other lender.
Individuals who are being harassed by collection companies have rights. They may choose to speak with legal professionals in the bankruptcy and debt management fields who can advise them of their options against scofflaw debt collection agencies. No one should be improperly scared into paying a credit card debt against his will or wrongly threatened into remedying a loan he is not ready to pay.