We all know the consequences of not paying our bills. Credit scores go down, interest rates go up and creditors start calling on a regular basis. Creditors can be quite rude when they call. However, you do not have to put up with their behavior. As consumers, you have rights that you must protect in order to get creditors to give you your due respect under the law. Learn how to deal with creditor harassment.
Document Everything
Creditors love to harass us because they think we are too afraid to stand up for ourselves. This is true to a certain extent. Most people would rather do whatever the creditors want so they will leave us alone. The best strategy you can undertake is document everything that happens to you. Every harassing message, foul word and every illegal threat must be documented. Documenting events as they occur will provide solid evidence if you have to go to court.
What should you be documenting? Take down the name of the person who called. Note the time and date of the phone call. Creditors should not be calling before 8am or after 9pm. Have a witness who will be able to verify that the events took place as documented. You should also be writing down the name of the company who called. There is a big difference between a debt collection agency and your original creditor.
Transfer Authority To A Third-Party
The best way you can stop bill creditor harassment is to transfer the handling of your debt to a third-party. Creditors are no longer able to contact you directly when you transfer power of attorney to another person or entity. Creditors who attempt further contact can be sued for harassment. This is why it is so important to document every step you take to fight bill collector harassment.
Who constitutes a third party? Essentially, anyone who is not you. Legally, your creditors can only get in touch with the person who is handling the debt. If a credit counselor is handling the debt, the debt collectors must get in touch with the credit counselor. Our only responsibility at this point is to work toward paying off the debt. Trusting your debts with a third-party may finally force your creditors to start negotiating settlements in good faith as opposed to using intimidation tactics.
Is A Cease And Desist Letter A Good Idea?
You have the right to send your creditors a cease and desist letter. BUT that does not mean you should. This is another form of blocking your creditors from having any further contact with you. However, be advised that your creditors may decide to go straight to court with your debts. This is why simply transferring the debt to a third-party is more constructive when you just want those collection phone calls to stop. A cease and desist letter used to be a good idea but now it may ultimately put you at the front of the line for a lawsuit from your creditors.
Do Not Be Afraid To Take Action
As debtors, we must understand our rights under the law. However, enforcing the law becomes difficult if no one is willing to use that law. It is up to us as debtors to make sure that creditors play by the rules. Talking things out only goes so far. Failing to back up words with actions is going to embolden creditors even more to do whatever they want. Hire a lawyer today if creditor harassment is starting to interfere with the ability to live a peaceful life.
Creditor harassment is a major issue in America. You must start to understand your rights as a debtor. We are people just like anyone else. Lenders have no right to harass us just because of an outstanding debt. Document everything, transfer your accounts to a third-party and never be afraid to use the legal system. Our creditors will never stop harassing us unless we make them accountable for their actions.