Forbes Living assures you that if you're receiving calls
from a collection agent, otherwise known as a bill collector, you're not
alone. One in seven Americans are
hearing from these financial professionals on a regular basis. It may make you feel nervous and intimidated,
but don't forget: you have rights. First, make sure they have the correct
person, because many of them are working with old files, old phone numbers or
they may simply not be too careful. They
aren't allowed to call you before 8 a.m. or after 9 p.m. Collection agents aren't permitted by law to
harass, intimidate, threaten or embarrass you.
They're also not permitted to call your family or friends in order to
apply pressure on you.
The Forbes Living TV show reminds you that you can report
any abusive or unlawful activity perpetrated by a debt collector. However, it may be difficult to find out the
caller's true name or company in order to report them. By this time, the debt has probably been
purchased from your original creditor and the calling agency has no further
connection with them. Therefore, when
you are ready to pay the debt, you have some room to negotiate a lower
settlement or arrange for a payment plan.
They most likely paid a discounted amount to purchase your debt, so they
often will accept a bit less from you to pay them off. It never hurts to ask.
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