Comments on: How to Deal With Creditors and Collection Agencies http://www.moneycrashers.com/how-to-deal-with-creditors-and-collection-agencies/ Personal Finance Blog, Your Guide to Financial Fitness Thu, 09 Feb 2012 20:13:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Joehttp://www.moneycrashers.com/how-to-deal-with-creditors-and-collection-agencies/#comment-33407 Joe Sat, 15 Oct 2011 17:54:00 +0000 http://www.moneycrashers.com/how-to-deal-with-creditors-and-collection-agencies/#comment-33407 Sending a cease and desist order is just asking for a creditor to file a lawsuit against you, and if they win the lawsuit (and most likely they will if you owe them money), they will be able to garnish your wages. A cease and desist order should be the last option. If you really want to get to a creditor, record every phone call you have with them, and let them know you are doing so. If they do anything out of bounds such as calling during times their not allowed, harassing, etc, then bring it to a supervisor's attention, and you can generally come to a more favorable agreement for yourself. If the supervisor does nothing, you can then look into taking legal actions. Sending a cease and desist order is just asking for a creditor to file a lawsuit against you, and if they win the lawsuit (and most likely they will if you owe them money), they will be able to garnish your wages. A cease and desist order should be the last option. If you really want to get to a creditor, record every phone call you have with them, and let them know you are doing so. If they do anything out of bounds such as calling during times their not allowed, harassing, etc, then bring it to a supervisor’s attention, and you can generally come to a more favorable agreement for yourself. If the supervisor does nothing, you can then look into taking legal actions.

]]> By: Trevor Ghttp://www.moneycrashers.com/how-to-deal-with-creditors-and-collection-agencies/#comment-14006 Trevor G Thu, 19 Aug 2010 12:08:27 +0000 http://www.moneycrashers.com/how-to-deal-with-creditors-and-collection-agencies/#comment-14006 There is one point that should be added to this comment which was very good. You can demand that all phone calls cease under the act and ask that everything be sent in writing to your address. Send this letter by registered mail so someone has to sign for it. Once they receive it they have 72 hours to comply. If they fail to comply they will including the person barred from collecting from you and in some cases the debt will be cleared. Another valued obtion is go to your local credit bureau they often are collection agents as well. They can assist you in repaying debt or debts in a timely matter usually on a monthly basis at an amount that you can afford based on your income. There is one point that should be added to this comment which was very good. You can demand that all phone calls cease under the act and ask that everything be sent in writing to your address.

Send this letter by registered mail so someone has to sign for it. Once they receive it they have 72 hours to comply. If they fail to comply they will including the person barred from collecting from you and in some cases the debt will be cleared.

Another valued obtion is go to your local credit bureau they often are collection agents as well. They can assist you in repaying debt or debts in a timely matter usually on a monthly basis at an amount that you can afford based on your income.

]]> By: Rogers Placehttp://www.moneycrashers.com/how-to-deal-with-creditors-and-collection-agencies/#comment-4785 Rogers Place Wed, 28 Mar 2007 06:23:17 +0000 http://www.moneycrashers.com/how-to-deal-with-creditors-and-collection-agencies/#comment-4785 If a creditor is too pushy you can send a cease and desist order. Their harassment will stop and you will most likely then be contacted by another credit agency. Hopefully they won't be so harassing. An example letter is available online by searching for debtor rights. Can't remember the exact location, but one is available from a federal government site. You may owe money, but there are laws that protect you and govern the practices of debt collectors. This is not an excuse to ignore debt. If you owe debt do your part to settle this debt. If a creditor is too pushy you can send a cease and desist order. Their harassment will stop and you will most likely then be contacted by another credit agency. Hopefully they won’t be so harassing. An example letter is available online by searching for debtor rights. Can’t remember the exact location, but one is available from a federal government site.

You may owe money, but there are laws that protect you and govern the practices of debt collectors.

This is not an excuse to ignore debt. If you owe debt do your part to settle this debt.

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