How you can stop creditor harassment ?
People who feel hopelessly pressured by credit card debt should know that they have options to stop creditor harassment.
Creditors are often persistent to the point of constant phone calls at all hours of the day. They often make threats which create unbearable frustration and stress for the debtor.
Solutions include knowledge of debt collection regulations, filing bankruptcy, or using a debt settlement service.
The Fair Debt Collection Practices Act places limits on debt collection.
It covers personal, family, and household debts. Collectors are allowed to make contact with debtors in person or by telephone, mail, telegram, or fax.
If a debtor writes a letter requesting that contact be stopped, collectors must cease contact except to notify of a specific action.
They must contact through the debtor's attorney if they have retained one. Collectors may not tell other associates of the debtor about money owed.
Debt settlement services are a valuable option. They relieve the stress of overwhelming debt by offering a manageable payment plan. As soon as a debtor enrolls, creditors and collectors receive immediate notice to stop contact. Usually, harassment ceases within a month, with two months being the maximum.
Programs are in place to monitor the situation until all debts are paid.
A customer representative is assigned to each account to handle all problems and concerns.
They may ask debtors to keep a written record of any contacts with creditors in order to bring harassment to a halt.
Bankruptcy is considered a last resort. It will stop creditor harassment but at the same time, create other problems. Negative effects, such as inability to obtain credit or secure fair interest rates, can last for at least seven years. Many debtors regret their decision to file for bankruptcy. Feelings of guilt and failure are common. Expert advice is extremely important before making this life changing decision.
Or get our
Awaken the higher mental, emotional, and spiritual capacities with Heartmath.
See products we recommend in our Amazon Store
Jan 24, 18 06:22 PM
I know it has awhile since I last posted, and I did not do so well through the holidays, indulging my sugar appetite regularly. I even gained a little weight, but I am back in the saddle now, with a n…
Dec 26, 17 04:31 PM
Christmas day has come and gone for another year...along with all the carbohydrate temptations...well, almost all, as I still have cookies from my ex-wife...she does these Christmas logs that are so d…
Dec 16, 17 05:41 PM
Did you know that keto diets deliver a high amount of nutrition per calorie? I know that carbs, especially packaged carbs, offer very little in the way of nutritional value. I also did not know that m…