Can a creditor call me at work?

Can a creditor call me at work? A credit can call you at work until you tell them now to. You have rights under the fair debt collections act. Creditors do have a right to call you if they owe you money but they must follow the rules. If you are getting harassed by a creditor or collection agency, it would be a good idea to become familiar with the fair debt collections practices act of 1977. If a creditor knows that you know what the rules for collection are, they will probably back off. They can be fined by the government for violating the debt collections laws.

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Why do creditors try to scare you?

Why do creditors and collection agencies try to scare you? It's simple really, they just want to collect money from you. The more you are afraid of what they are telling you they are going to do to you, the better chance they have of collecting from you. They know that most people have a fear of the unknown. Getting sued for most people is the biggest worry. If you are already not paying your bills, threatening court and wage garnishment can sound pretty horrifying. They want you to do what ever you have to do to get out of debt. You do have rights as a debtor. It would be very smart to read the fair debt collections act to see what your rights are. I think you will find out that the bark is worse than the bite sometimes. I think a little knowledge will give you some peace of mind as well. I'm not saying that you will be able to ignore it, you will have to deal with it at some point.

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More on the Fair Debt Collection Act

What is a collection agency?

Collection agencies are companies that collect on past due bills. They collecting is either done by the original company that made the loan with you or they have an outside company do the collecting. Typically a third party collection company will often work on commission. They will receive a percentage of the amount of debt that they collect. Usually a debt collector is paid a small salary with a large commission incentive. This is why they may be very aggressive with you. They want to get paid. Typically you are going to get phone calls and letters which most likely will not be of a friendly tone. Their job is to scare you. The more they can scare you, the more money they can collect from you.

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Are you feeling harrassed by collection agencies?

You may be feeling harassed by collection agencies if you have fallen behind on your bills. If you are serious about paying your creditors back, you may have nothing to fear. Sometimes the bark is worse than the bite when it comes to collection companies. If you understand the tactics of a collection agency, you will regain the upper hand when going up against them. A collection agency uses fear as a tool. They know that fear motivates people and they can use that fear to get what they want. What they want is money out of you. If you understand that they will follow through on their threats less than 1% of the time you can gain your peace of mind back. They don't want to go to court it's expensive and even if they win it can still be hard to collect on it. If they garnish your wages and you get a new job, they have to start the process all over and it gets expense. If you understand this you can do your own negotiating with them and save yourself some money in the process. They may say that they want to do all of these bad things to you, but the truth is they would really prefer not to spend the money. If you don't want to deal with the negotiation, you can hire a debt negotiation firm to represent you and they will handle all of this for you. Typically a debt negotiator can save you anywhere from 40-60 cents on the dollar.

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