Debt Collectors Getting Sloppy, Leading To More Violations Of Debt Collection Laws?
October 3, 2008
Collection harassment is against the law.
In a world where credit is more important than cash, people are bound to fall behind. And when they do fall behind, collectors smell blood in the water. The circle their prey, then go in for the kill.
During good economic times, the money flows (relatively) easily. But when unemployment and foreclosure is as common as tying one’s shoelaces, and when many families have to choose between a gallon of gas and food on the table, less is available for the creditors to collect.
When there’s less money to pay the debt collectors, they start getting nervous. And as they get nervous, their profits sink. Faced with the survival instinct, they get sloppy.
Collection laws are broken with impunity.
Consumers get the short end of the stick as collectors start to sidestep or completely disregard federal laws.
Now is the time to know the law and your rights.
Approximately 1 in 11 American consumers have at least one credit card that is 90 days or more overdue. These people are hounded by the debt collector, one of the fastest growing industries in the country.
The Federal Trade Commission has a website designed to help consumers. Their Fair Debt Collection site answers some common questions that arise when people feel they are being harassed by debt collectors. The site also has a convenient list of what debt collectors may and may not do.
Doing a little research can go a long way toward protecting you from the alarming trend of fraudulent debt collections. These collectors rely on the fact that most people are unaware of the laws and their rights. Don’t be one of those – know your rights and protect yourself.
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