Not everyone realizes how much control they have over their debt when it comes to dealing with debt collectors. Knowing your options when you have outstanding debt can help you avoid being tricked. Some debt collectors will abuse their power and make you think you have to certain actions. Do not hesitate to talk to a Chattanooga bankruptcy attorney if you have questions related to bankruptcy.
WHAT CAN DEBT COLLECTORS DO?
Knowing what debt collectors are allowed to do is the first step to figuring out whether you are being abused. Common debt collector practices include calling you with reminders of the debt you owe and sending you letters. Information that should be given to you within five days includes details about your debt,
You should be told the amount of debt you owe and who you owe this money to. If you are not told any of these things, then you should contact your debt collector for this information. Be wary of excuses that do not make sense.
The steps you can take if you do not owe the debt they say you do should also be explained to you. Debt collectors who do not tell you this might be deceiving you. When you do not owe the debt in question, you can take action through debt collection arbitration. This involves meeting with an arbitrator to settle the dispute.
You will need evidence like receipts and account summaries to back up your claim. However, be warned that if you lose this case, you will be ordered to pay the remaining debt. If you do not pay the debt, your wages could be garnished. This means the debt collector could take out a portion of your income each month until your debt is paid.
RECOGNIZING DEBT COLLECTOR ABUSE OF POWER
While debt collectors can garnish your wages in some cases, there are certain things they cannot do. Recognizing debt collector abuse is vital for protecting your finances and avoiding tricks.
Since the debt is between you and the debt collector, your debt collector cannot harass or ask anyone else about your debt. A debt collector who contacts your wife, other relatives, or employer about your debt is engaging in harassment. You can report the debt collector and send them a letter to stop.
If the debt collector continues to contact you after you sent a letter, this is a major breach of their duties. Debt collectors who make false allegations, use profanity and threats, and who say they will sue are abusing their power. You do not have to put up with these tactics. File a complaint with your State Attorney General’s Office.
BANKRUPTCY LAWYER IN CHATTANOOGA, TN
Trying to pay off debt can make some people fall into bankruptcy. Do not panic if this is you. All you have to do is contact us at Tom Bible Law today by dialing (423) 690-7712 for a consultation about your options. Our team of Tennessee bankruptcy lawyers might be able to help you escape your expensive debt. We are located throughout the Tennessee cities of Chattanooga, Kingsport, and Tullahoma.