Consumer debt is on the rise now due to bad economy and debt collection agencies are taking advantage of every one of your misfortunes. Recently I watched a program on TV about debt collectors and their dirty tricks.
First, you have to understand that there are debt collection laws in place and no one should scare you about taking you to jail or garnishing your wages. The only way they can garnish your wages is if they go to court and proof you owe the money before that they are actually garnish your wages. The judge is the only one who gives that orders otherwise those debt collectors are actually at your mercy because if you do not pay they will be on the losing side since they bought your debt at pennies on the dollar.
Credit debt scares most people to death but I wish everyone knew their rights about what they should do, although there are so many options out there you need to educate yourself about your debts and what you should do incase you are unable to meet your obligation.
Remember debt collectors will follow you with claims of debt you owe, debt you do not owe and debt that is past the statue of limitation and that is why instead of panic you should learn your rights.
Reply immediately to letters from debt collectors and ask them to proof you actually owe this debt because without proof they have no case. They need to provide you with details for your information that is why it is important to consult a lawyer. Find a lawyer who can explain to you your rights and what you should do (most lawyers will give partial advice in the hope you will retain them)
Remember to educate yourself about credit debt and debt collectors before looking for help because you are better informed than been led blindly.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment