Welcome to Debt Collection Guide
Debt Collection Improvement Act Of 1996 Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
What Happens during the Collection of Debt?
from:If you have debts to pay for your credit cards, student loans, mortgages or car payments, you should be diligent about making the required payments. If you repeatedly miss payments, your account may be turned over to an agency for the collection of debt.
Once your creditor has grown tired of pursuing you for payments, the collection agency will assume all the responsibilities related to the collection of debt. The collection agency will contact you to inform you that it will handle your account. Within five days from the time of contact, the collection agency will send you details regarding the collection of debt. The agency will mail or fax a written document with information about the amount of money you owe, the company you owe it to and the actions it will take if you do not make payment.
The process of collection of debt may start with a phone call, an email, a fax message or regular mail. Sometimes, the collection agency may even visit you at your home. However, keep in mind that collection agencies are not allowed to contact you before 8:00 am or after 9:00 pm. This ensures that communication happens at a time that is convenient for the debtor. Also, the collection agency is not allowed to call you incessantly or flood your mailbox with numerous emails. Such a behavior may be considered harassment.
In the course of the collection of debt, there are practices that should be avoided by the representatives of the collection agency. These include:
1) Use of threat of force, violence or harm.
2) Use of obscene and profane language.
3) Use of racial slurs, and other insults
4) False representation – the collector cannot lead the debtor to think that he has legal powers or that his actions are mandated by the government
5) Solicitation of extra fees and charges
Moreover, the collection of debt is a process that should work for both the collector and the debtor. While the debt collector has the right to pursue you for payment, you also have the right to dispute his claim. If you have reason to believe that the debt is not yours or that the amount indicated is incorrect, you may write a letter to the collection agency. This letter should be filed within 30 days of the time of contact between you and the collection agency. Also, if you want the collector to stop calling you, you can send a letter requesting that all communication be done via regular mail.
In the process of the collection of debt, you are allowed to contact the debt collector and request for changes in your payment plan. You may ask him to reduce the amount or to allow you to make more installments over a longer period of time. This gives the collector the guarantee that you will pay since the newly-negotiated rates are more affordable to you.
Debt Collection Improvement Act Of 1996 News
Accretive Responds to Attorney General, Al Franken - InsideARM
 InsideARM | Accretive Responds to Attorney General, Al Franken InsideARM Did Accretive employees request payment or attempt to collect past debts from Fairview patients before they received medical treatment? “Informing patients of prior balances at the time of registration is consistent with the 'recommended practices' ... |
Portfolio Recovery Associates Reports First Quarter 2012 Results - MarketWatch (press release)
Portfolio Recovery Associates Reports First Quarter 2012 Results MarketWatch (press release) Total cash collections increased 31% year-over-year, as we added new consumer debt and bankrupt customer portfolios of $111.4 million this quarter," Fredrickson said. "Revenue from our fee-for-service businesses slightly improved year-over-year, ... |
Berkeley County officials disagree on how to spend fees from industries - Charleston Post Courier
Berkeley County officials disagree on how to spend fees from industries Charleston Post Courier “I don't think people know that so far we've collected about $15 million from (the Mount Holly Commerce Park, where Google is located), and not one dime has ever made it to the school system,” said County Councilman Tim Callanan. |
Jabil Circuit's CEO Hosts 2012 Analyst Meeting (Transcript) - Seeking Alpha
Jabil Circuit's CEO Hosts 2012 Analyst Meeting (Transcript) Seeking Alpha This company was founded in 1996 and flew under the radar screen for a long time but I think that's probably predates ONK. Not really sure about that but we certainly have out survived SCI. Thanks everybody for coming here today. |
International Tax Controversy - April 2012 - JD Supra (press release)
International Tax Controversy - April 2012 JD Supra (press release) The first type of protection, the attorney-client privilege, seeks to “protect not only the giving of professional advice to those who can act on it but also the giving of information to the lawyer to enable him to give sound and informed advice. |