(Trading silver futures) What are debt collectors forbidden to do?

Written by Webmaster

Thursday, 22 January 2009

By Dr. Jennifer Baxt, DMFT, NCC, DCC

One of the worst things about being in debt and having a low credit score is the fact that you have to deal with debt collectors. The sad part of this is that many people do not realize just what debt collectors can and cannot do. By knowing what they can do, and are legally allowed to do under the Fair Credit Reporting Act, will help you stay a step ahead of them and not to fall into their traps.

First, debt collectors cannot threaten you to do something that they are not allowed to do. They cannot threaten violence or any crime of any type. They cannot threaten to take your property or your wages without a court order either.

Second, debt collectors cannot swear at you, lie about who they are, lie about why they are calling you or contact you so often that it can be deemed harassment. They cannot call you at work either if you have asked them not to contact you at work. As well, it is illegal for a debt collector to call you before 8 a.m., or after 9 p.m.

Third, in no way are debt collectors allowed to tell anyone else about your debt. They can only do so if they have a court order against you. This means that debt collectors cannot tell your employer about the debt, but they can call your employer to ask where to find you. Debt collectors cannot contact family members, except for your spouse if you are married, or your parent or guardian if you are under the age of 18.

Fourth, a debt collector cannot trick you in order to collect on the debt. This means that they cannot lie about the legal status of the debt, and they cannot claim that they work for a federal or state government agency. They cannot use any paperwork that may make it look like they work for a government agency either.

Lastly, debt collectors cannot add a fee to the amount of the debt unless it is a special case. Also, if you have a lawyer, then the debt collector can only contact the lawyer if you have sent a statement asking them to contact the lawyer on your account.

Debt collectors will try anything and everything to get you to pay back your loan or debts. However, sometimes they go a bit too far and begin to cross the line. When they do this, you need to be ready to act because by acting and not falling for their tricks, you can actually help your situation and even have the debt erased due to a threat of a lawsuit on your part. Knowledge is power and knowledge about your rights with debt collectors is very, very powerful, so know your rights. This is why it is important to keep records of when you receive calls from debt collectors, what they say to you and more. Anything that can be used to help your case will help you in the long run and get the debt collectors off of your back.

Jennifer Baxt, works with people who are having trouble with their credit and want to improve their score. We offer solutions to credit problems by removing negative items from credit reports. You can visit our website http://www.creditrepairbydrjen.com for more information.

Your Information Source On Trading Silver Futures