Welcome to Debt Collection Guide
Collections Collectors Debt Collection Article
. For a permanent link or to bookmark this article for further reading, click here.
Debt Collection Practices: The Dos and Don’ts
It may be true that you do owe money to the debt collector who is standing at your door. However, that doesn’t change the fact that you are still a client and you deserve to be treated fairly. You have the Fair Debt Collection Practices Act to protect you. This act will help you fight back when your debt collector displays actions that can be considered bad debt collection practices.
By understand the Debt Collection Practices, you will know what your debt collector can and cannot do.
Dos of Debt Collection
The debt collector must employ Debt Collection Practices that respect the rights of the debtor. This means that he should willingly provide the debtor with documents that will verify the nature of his debt. The debt collector must also initiate communication with the debtor. While communicating with the debtor, the collector must be courteous and cooperative.
Here are some of the other Debt Collection Practices that the collector should do:
1) Within five days of the initial contact, the debt collector should send a written document that lists all the details regarding the debt. These include information about the original creditor, the date the debt was incurred, the total amount owed, and the deadline for payment. Also, all the documents should be attached for the debtor’s reference.
2) The debt collector should let you know the steps you need to follow if you want to dispute the debt.
3) The debt collector should honor your requests. If you submit a letter to inform the collector that you no longer want him to call you, he should comply.
4) The debt collector should keep your debt as a private matter.
The Don’ts of Debt Collection
There are some Debt Collection Practices that are designed to intimidate the debtor. These Debt Collection Practices should be avoided. Debt collectors should remain respectful to the debtor. Acts of harassment and abuse are punishable by law.
Here are some of the Debt Collection Practices that are sanctioned by law:
1) Debt collectors are not allowed to contact you at inconvenient places or hours. This means no calls or visits before 8:00 am and after 9:00 pm. This also means that if it is inconvenient for you to talk to the collector when you’re at work, he should stop making calls and visits to your workplace.
2) Debt collectors are not allowed to issue false threats. Unless he fully intends to carry out legal action, the collector cannot say he will sue you. If he says he will sue you, ask for a document from the agency that shows its intention of pursuing legal action. Also, the debt collector cannot scare you with threats of jail or repossession.
3) Any debt collection practice that involves insulting or discriminating the debtor is completely unacceptable.
4) The debt collector cannot physically hurt you if you refuse to pay.
Collections Collectors Debt Collection Specific links
Collections Collectors Debt Collection News
A Hobby to Many, Card Collecting Was Life's Work for One Man - New York Times
 New York Times | A Hobby to Many, Card Collecting Was Life's Work for One Man New York Times But no one disputes that the greatest card collector was Jefferson R. Burdick. Some hobbyists have more cards and some investors have more valuable collections. Yet all of them owe a debt of gratitude to Burdick, an unassuming bachelor from upstate New ... |
Taxpayers Fund $454000 Pay for Collector Chasing Student Loans - Bloomberg
 Bloomberg | Taxpayers Fund $454000 Pay for Collector Chasing Student Loans Bloomberg Joshua Mandelman made $454000 in a single year as a student-loan debt collector -- more than twice the pay of the US secretary of education. His boss, Richard Boyle, chief executive officer of Educational Credit Management Corp., received $1.1 million ... Collection agency cashes in on student loan defaults Bloomberg Still Hates Student Loan Collectors |
Student Loan Debt Collector Gets Paid $454000 In Taxpayer Money - Huffington Post
Student Loan Debt Collector Gets Paid $454000 In Taxpayer Money Huffington Post Debt collectors may have a worse reputation in the eyes of the public than members of Congress, ambulance-chasing lawyers and even sleazy tabloid journalists. And some recent headlines won't improve their standing anytime soon. |
Wonga debt collection methods criticised by OFT - BBC News
 BBC News | Wonga debt collection methods criticised by OFT BBC News It also said that the script used on the phone by its in-house debt collecting staff had not been used since January 2010. "The OFT has adduced no evidence that the communications have ever been sent again, or the collections script has ever been used, ... |
STA International appoints new Training Manager - Creditman
STA International appoints new Training Manager Creditman Gina joined STA in 2007 as a senior collector working in both the debt collection and receivables management divisions. Prior to this, she honed her skills during 15 years in commercial and consumer companies as credit manager, collections manager and ... |