Being in debt is an extremely stressful situation, especially when you’re being hounded by debt collectors. Many people assume that they are at the mercy of debt collectors and must endure constant calls as long as they are still in debt. However, although you may not realize, you actually have many rights under debt collection law, and once you learn about these rights you can start protecting yourself against harassing debt collectors.
Read more about your rights under debt collection law and find out how an experienced attorney can help you handle your debt and debt collectors.
Limitations on Contacting You About Your Debt
When you’re in debt, you dread hearing the phone ring because you know it might be a debt collector calling to ask about your next payment. Fortunately, debt collection law places very strict limits on how and when a debt collector can contact you by phone.
For example, a debt collector is not allowed to contact you before 8 AM or after 9 PM unless you request it, which means you don’t have to worry about early morning or late night calls. Also, a debt collector or collection agency cannot contact you at work without your prior authorization. Finally, debt collectors are only allowed to call you one time a day, with any further calls constituting harassment as determined by the Federal Trade Commission (FTC).
Debt Collectors Can’t Attack Your Reputation or Threaten You
Another major concern of those dealing with major debt is that angry debt collectors will attempt to ruin their reputation by contacting friends, family or even fellow employees and informing them of the debt. If you’re worried about debt collectors attacking your livelihood, you’ll be pleased to know that debt collection laws prevents debt collectors from contacting those close to you for anything other than discovering your contact information.
Similarly, a debt collector is not allowed to threaten you in any way. For instance, a debt collector cannot threaten you with a lawsuit unless they are actually planning to file a lawsuit, and they are forbidden from threatening violence in any form.
Honoring Contracts and Written Notices
Debt collection law also contains regulations for how a debt collection agency can collect payment. This both protects your finances and makes sure that the agency that holds your debt acts reasonably.
First, a debt collector will not be able to collect more than the actual amount of your debt, which is important because it prevents unscrupulous collection agencies from attempting extortion. Secondly, after making first contact with you, the debt collector has five days to send you a letter informing you of the amount you owe. Lastly, if you dispute the debt and notify the collector to stop contacting you, they must do so until they have verified the debt.
Ask an Attorney About Debt Collection Law
If you want to get advice on debt collection law, you need to consult with an attorney from the Disparti Law Group. We can inform you about your full rights under debt collection law and can discuss your options for filing a lawsuit if you believe you are being harassed, threatened or extorted by a debt collector.
Ask us about our services and how the Disparti Law Group is prepared to fight for you.