Are debt collectors bugging you in the middle of dinner? Are old collections not helping your credit score?
The Fair Debt Collection Practices Act (FDCPA), protects consumers from abusive collection tactics. The Federal Trade Commission(FTC) says the most common violations are:
- Excessive calls or harassment, including calling their workplace. Collectors also lie and say they are an attorney or government agent. They are not.
- Collection for a disputed amount. The original debt needs to be verified and the amount you settle should be based on that. Collectors are notorious for trying to collect several times the original amount owed. Don’t give in to this cheap tactic.
- Failure to notify (in writing) of a debt. Yes, in writing. It may seem quaint in the digital age, but these need to be in writing. The letter must say how much is owed, to whom, and what you should do if you believe the debt is not actually yours.
If any of the above things have happened to you in the US, the collectors are in violation of the rules the FTC has set forth and may be fined for their actions. It has happened in the past, so it’s not an idle threat.
