Debt collection agency is the company which collects debts that are owned by the consumers. Some debt collection agencies may threaten or harness the consumers while collecting the debts. These agencies also compel the consumers for paying the full debt amount. Let us see some of the things that the debtors should get aware while dealing with these debt collection agencies.
- Tape the phone Conversation
Debt collection agencies will try to contact you more often on phone for collecting your debts. You can ask them to contact you only on email. Even after your request if they try to do it then tape the phone conversation if your state law permits.
- Be familiar with statute of limitations
You should gain thorough knowledge in the statute of limitations in your state to effectively fight against the debt collection agency because they may contact you even after your debt has expired.
- Learn your rights given by FDCPA
Learn the rights you have in order to stand firm against the debt collection agency. If you are careful in the FDCPA (Fair Debt Collection Practices Act) then it helps you to make the right decision.
- Validate your debt
You have the right to validate your debt and you can ask the collection agency to prove the debts on you. If they fail to produce the required documents against you then they have no rights to collect the debt from you.
These are the things you need to be aware about the credit reporting agencies. Make use of the fair debit collection practices act more to solve your debt problems.
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