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작성자 Bradly 작성일23-02-21 19:11 조회10회 댓글0건

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5 Things Debt Collections Aren't Able to Do -- and 5 Things Debt Collectors Can

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5 Things Debt Collectors Can't Do -- and 5 They Can
Debt collectors have limitations on what they can pursue for payment, but they can pursue you for a lawsuit.
By Sean Pyles Senior Writer | Personal financial and credit, and personal finance Sean Pyles leads podcasting at NerdWallet as the producer and host of the NerdWallet's "Smart Money" podcast. On "Smart Money," Sean talks with Nerds from NerdWallet's NerdWallet Content team to answer the listeners' questions about personal finance. With a particular focus on sensible and practical advice on money, Sean provides real-world guidance that can help consumers better their financial lives. Beyond answering listeners' money questions on "Smart Money," Sean also interviews guests who are not part of NerdWallet and creates special segments that explore subjects like the racial wealth gap, how to start investing, and the history for student loans.
Before Sean lead podcasting for NerdWallet, he covered topics concerning consumer debt. His work has appeared on USA Today, The New York Times as well as other publications. When when he's not writing about personal finance, Sean can be found digging around his garden, going for runs and taking his dog on long walks. Sean is located in Ocean Shores, Washington.





Mar 24, 2022


Edited by Kathy Hinson Lead Assigning Editor Personal financial, credit scoring, debt and money management Kathy Hinson leads the core personal finance team at NerdWallet. Prior to joining NerdWallet, she worked for 18 years at The Oregonian in Portland in positions such as copy desk chief and team leader for design and editing. Previous experience included news and copy editing at various Southern California newspapers, including the Los Angeles Times. She received a bachelor's degree in mass communication and journalism in the University of Iowa.







The majority or all of the items featured on this page are from our partners who compensate us. This influences which products we feature and the location and manner in which the product appears on the page. However, this doesn't influence our opinions. Our opinions are our own. Here is a list of and .



If you are feeling powerless confronting debt collectors, know that their tactics are limited by the .
Here are five things that- those who take on a debt on behalf of a creditor -- can't do, and five they can.
5 things that debt collectors aren't able to do
1. Go to work
Under the FDCPA, it's illegal for an individual to visit your work place to collect payment. The law prohibits you from releasing your debts, and showing in your workplace to collect debts. That means that collectors of debt cannot contact you in-person at your work.
However, a debt collection agency, like an organization that deals with credit cards, may call you at work, even though they can't reveal to your co-workers that they are debt collectors. If you ask the debt collector not to contact you while at work, then by law, they must stop.
Are you ready to get rid of your debt?
Keep track of your spending and balances in one place to see the way to get out of credit.






2. Harass you
Harassment from debt collectors can occur in many forms:
Calls repeatedly.
Threats of violence.
Publishing information about you.
Abusive or obscene language.

All of them are unlawful under the law on debt collection practices.
3. Arrest you for debt
You aren't able to be detained for a debt you owe to the debt collector.
However, if a collector pursues you for the amount owed and you do not show up in court, you may lose by default and be ordered to pay. If you don't comply with the judge's order, that collector may pursue an arrest warrant.
4. Pursue you for debt you don't owe
The debt collection industry is rife with inaccuracies. Incomplete or inaccurate documentation can cause a debt collector to seek out the wrong person to payment, or even pursue the right person to pay a debt he or she already paid. This problem isn't unusual however it is illegal.
If you're unsure of the amount of debt you're required to pay, start with an examination of Your credit history. They can be obtained at no cost by .
Keep in mind that , collectors are able to contact their family or executors to discuss repayment, but they cannot make up a false impression that someone is obliged to pay those debts.
5. Call you whenever they want
The debt collectors are not allowed to contact you before 8 a.m. or after nine p.m. You may request that a debt collector cease making calls or writing letters in pursuit of payment for a debt. Your obligation to pay for the debt remains, however.
>> LEARN:
5 things that debt collectors are able to do
1. Pay off an unpaid debt
All debts that are unsecured, such as credit cards and medical bills have a . At the time of this date, the debt is "expired" which means you cannot be sued for repayment. But , you're still owed, and debt collectors can still pursue payment for the old financial obligations.
2. You can't let it go.
While debt collectors can't make threats or lie to them, they are able to apply pressure to collect payment. This pressure can include daily calls, frequent letters, or discussions about filing an action to collect the debt, as it is within the limits of the law.
3. Sue you for payment on an outstanding credit
The debt collector can be an last resort. These lawsuits often result in the garnishment of wages, bank levies or both, because most people who are in debt don't appear in court and lose by default.
4. Sell your debt
A collector may be able to sell debt it was not able to collect on or even sell the rest even if only a small amount of repayment was received. So if one debt collector doesn't contact you anymore about an outstanding debt, don't get amazed if a new one begins. If you decide to make a payment on a debt in full, be sure you get the agreement written to show it.
5. Negotiate what you are owed
Because debt collectors purchase debts at pennies on the dollar, they can make large profit margins if they can collect the amount originally due. This gives them more flexibility when negotiating payments from a consumer. You might be able for negotiating a deal for 25 percent or 30 percent of the debt you initially owed. Also, make sure you get the settlement agreement in writing, so you can show proof that the debt was deemed to be paid in full for the settlement amount agreed upon.
>> MORE:



About the author: Sean Pyles is the executive producer and host of NerdWallet's Smart Money podcast. His writing has appeared on The New York Times, USA Today and elsewhere.







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