Welcome to Debt Collection Guide
Statue Of Limitations For Debt Collection Article
. For a permanent link or to bookmark this article for further reading, click here.
The Debt Collection Law: What You Need to Know if You are in Debt?
Under the Fair Debt Collection Practices Act (FDCPA), you are protected from the abusive actions of a debt collector. No matter how much the creditor wants his money back, he needs to follow the guidelines of this debt collection law. This law has special implications for you, your workplace and even your medical care.
The Debt Collection Law and Your Workplace
The debt collection law, specifically the FDCPA, specifies that a debt collector may contact your office only to inquire about your location, your home address as well as your contact information. This form of contact can only be done if the debt collector has no other means of locating your current residence.
Meanwhile, the debt collection law also gives the debt collector the right to send papers and documentation to your boss. These documents are files on your debt that are somehow related to your job and your salary. A common example is a court order that asks for details about your salary.
However, the debt collector is not allowed to volunteer any information regarding your debt. The debt collector may only share this information if your boss asks for it, or if he is asking your boss to answer certain paperwork that is related to your debt. While the debt collector may not share the details of your debt, your employer may have other ways of obtaining such information. Usually, records of your debt may appear on your credit rating. Since your employer is allowed to view this information, he may learn about your debt.
The Debt Collection Law and your Health Care
Unpaid medical bills are a huge concern for creditors and their collection agencies. If you fail to settle your medical bills, your healthcare provider may turn over your account to a collection agency. However, the debt collection law and the law concerning medical bills indicate that you must first agree to such a transaction before a collection agency takes over your account. If for some reason you dispute the debt, you may raise your concerns at this point.
Even though a debt collection agency is taking care of your account, your healthcare provider will still protect your privacy. To this extent, the healthcare provider will only release information on your name, address, account number, social security number and your date of birth.
The Debt Collection Law and Identity Theft
The debt collection law also has provisions for identity theft. If a collection agency contacts you regarding a debt that you have no previous knowledge of, you may be a victim of identity theft. The first thing you should do is ask for documents regarding your debt. Ask for transaction records, letters of agreement, and receipts. If you have verified that the debt is really not yours, ask the debt collector for a fraud affidavit form. Once the form is processed, the debt collector will stop contacting you and the identity thief will be pursued.
Statue Of Limitations For Debt Collection Specific links
Statue Of Limitations For Debt Collection News
How to make old tax debts disappear - Reuters
How to make old tax debts disappear Reuters What you choose to do depends on your financial situation, how much you owe, and how much time remains on the statute of limitations for your tax liability. Generally, the IRS has 10 years from the date of the assessment to collect the tax. |
FTC settles with debt collectors over bogus magazine payments - Chicago Tribune
 The Consumerist | FTC settles with debt collectors over bogus magazine payments Chicago Tribune Debt collectors who allegedly sought bogus payment from consumers for magazine subscriptions have settled with the Federal Trade Commission. According to the FTC's complaint, the defendants, who handle collection of hundreds of thousands of accounts ... Luebke Baker & Associates, FTC Settle For Collecting On Fake Debts |
Help! Can the IRS Really Take My Inheritance? - Business Insider
Help! Can the IRS Really Take My Inheritance? Business Insider By Gerri Detweiler A debt to the IRS can create enormous problems. If the IRS files a Notice of Federal Tax Lien, your credit scores will tumble. And you'll likely find out that the IRS has a wider variety of collection tools at its disposal than most ... |
What's Cure for My Whopping Medical Bill? - Fox Business
What's Cure for My Whopping Medical Bill? Fox Business Now, I'll address your question of whether they'll take you to court for the large debt. First, find out if the debt is past the statute of limitations to collect in your state. If it's not, it is quite likely the collector will sue you in court. |
Bad News for Most Debt Collectors and Good News for Consumers - Huffington Post
Bad News for Most Debt Collectors and Good News for Consumers Huffington Post This is in response to an abusive industry practice of threatening to sue a consumer when the debt collector knew that the debt was so old that it had gone beyond the statute of limitations to sue -- but the collector would threaten to sue anyway. |