Creditor laws and consumer rights
It looks like we consumers finally have the right we deserve when it comes to harassment from creditors. It is stressful enough to be in the position that you are in but to have the unnecessary harassment is absolutely abusive. Many people have lost their job, families and friends do to this and now it can be stopped. Most of us understand that we owe the debts and want to pay them but cant. We try to negotiate without corporation, or ask for extra time it just seems to go on to deaf ears. There is a reason for this and that is money, money, money!
The people who are harassing you are taught to simply get the money by any means necessary. This is exactly what they do because they are paid by a commission based salary. If they do not get the money from the consumer they do not get paid. These so called people now have to follow a whole new set of laws that are there for the consumers benefit. The law is called “The Fair Credit Card Supporting Act” which has been established through the Fair Trade Commission which is legal and binding. Below are some of the most beneficial laws for the average consumer.
- If asked collectors are not able to conceal their identity. The must comply with any request from the consumer when asked for company name, their name or contact number.
- They are not able to lie, mislead or use abusive tactics in order to collect on a debt. They are not able to continue any type of calling or harassment to anyone who is sick or has a medical problem of any sort.
- Creditors or collectors are not allowed to defame abuse or use profanity to anyone publicly or privately.
- Collectors may not threaten a consumer or third party when practicing the collection.
- Once the consumer has stated verbally or in writing that they no longer want to be contacted the harassment must stop.
- If the creditor is contacting someone at work and the consumers employer asks them to stop they must cease contact immediately.
- All collection agencies that have a complaint held against them must comply and resolve the situation or they can have their licensed stripped from them.
- Collectors cannot call before 8:00am or after 9:00pm.
Knowing these rights and exercising them is very beneficial to all consumers who are feeling these types of pressures. It is important to know what can be done to stop the harassment and get your self-respect back. Another issue to keep in mind is that we have these laws to protect us, but we should still try and do the right thing. These debt were made and we owe them so doing what can be done to rectify the situation is the responsible thing to do. Understandably we may not be able to pay the debts but that does not mean that we ignore them. Look into a debt program that can assist you with your debts. Ignoring the situation will only make things worse and possibly make you end up in court.