Dealing With Debt – How to Get Out of Credit Card Debts by Using Debt Settlement Programs
You have certain rights when dealing with debt collectors as a consumer. They are obligated to abide by these rules:
You may ask for a refund. If a debt collection agency isn’t valid, it shouldn’t have any problem providing you with business information, such as a refund number. You have the right to demand that a debt management agency not contact you by phone or in any other way. A simple credit counseling service, which can also be done without court involvement, is usually sufficient enough to protect you from harassment.
You have the right to make sure that the agency isn’t trying to contact you at work or while at school. If you owe money to multiple creditors, you may have a more difficult time dealing with debt collectors, since they are prohibited by law from harassing anyone they can find. If you aren’t sure whether or not a debt collector has crossed the line, make sure to let them know. They need to keep this confidential, or else they can be held responsible if someone does call and threaten to have you arrested or file a complaint against you for using an illegal method to collect money.
It’s important to keep personal details private if at all possible. In fact, keeping your personal details private can help you avoid dealing with debt collection agencies altogether. The more information they can get about you, the more they can use it to harass you. They can send you dozens of letters, phone calls, or try to contact you at work. Make sure that you keep all of your personal details private. Don’t give out your social security number, financial information, or any other information that could lead to your debt becoming worse.
If you do get a letter or phone call from debt collectors, it’s important to remain calm at all times. You should never express annoyance or anger at the collector, and you should remember that you legally have the right to sue them if they harass you. It is possible for you to be sued even if you don’t owe the money. In fact, debt collectors are required to notify you that they are legally allowed to pursue you for the money, and you should always be aware of this.
If you do decide to go after a debt collector directly, you’ll want to do some digging to find out their name and address. You can search online to find out who owns the company, and there are also databases that can provide you with their personal details and the full amount owed. If you can, try calling up several companies and asking them about the amount owed, and the status of any collections. This will give you an idea of how to proceed, and it can give you some idea of what you should expect. It may be best to just pay off the original debt immediately, to avoid being charged late fees by debt collectors, especially if the original amount isn’t much.
If dealing with credit card debts doesn’t work out, there are other options. One is debt consolidation, which allows you to take out one loan to pay off all your smaller debts. Another is debt settlement, which allows you to negotiate a much lower total you owe. Once this is done, you can start making payments on the new loan in about five years.
However you choose to deal with your debt, make sure you do everything in your power to keep the collectors calling and writing. It can take only a few seconds to write a letter to the credit card company, but it could well keep creditors calling and writing for months. You could also visit consumer credit counseling services, where they can offer you some guidance in dealing with debt. Some services charge a fee, and some don’t. Either way, the free services are worth taking a look at.