If you’ve fallen behind on a debt, you’ve probably had the displeasure of talking with a debt collection company. In fairness, not all debt collectors are created equal. Some agencies work with you to resolve indebtedness in a fair and practical manner. Unfortunately, some collectors are downright shifty. For instance, some collectors threaten to have debtors arrested, or have their children taken from them by protective services. Outlandish and illegal.
Consumers are protected from abusive collection practices via the Fair Debt Collection Practices Act. The Act goes a long way to shield you and I from unscrupulous collectors – that is if they comply with the law. To learn more about how some collectors are harassing consumers, please read “Debt collection horror stories.” If you are dealing with an abusive collector, you can get some tips on how to approach the situation by viewing our “How to Deal with ‘Ruthless’ Bill Collectors” video.
Until Next time, I’m Thom Fox for Cambridge Credit.