Are debt collectors as bad as you think they are?
Martha C. White of WalletPop.com has a great article about a Wall Street Journal reporter who spent time working for a debt collection agency to see what really goes on. And Fred Williams learned that, yes, it’s pretty much that bad. He’s documented his experiences in his book titled “Fight Back Against Unfair Debt Collection Practices: Know Your Rights and Protect Yourself from Threats, Lies, and Intimidation .”
Here are a few key observations from White’s interview with Williams:
1. Most (not all, but most) debt collectors will say anything–whether true or false–to a debtor to collect a debt.
2. The agencies protect themselves in a large part by relying on “trainees” in their call centers. That way if they’re accused of crossing a line, the collection agency can just claim that the caller wasn’t fully trained on all the rules governing what debt collectors can and can’t do or say.
3. It’s helpful to actually have a lawyer retained. A lot of times, people will tell a debt collector they have a lawyer. But experienced debt collectors will ask for the lawyer’s name. And if you hesitate, they know you’re not telling the truth. FYI, once you’ve retained a lawyer and have notified a debt collector, they must contact you through your attorney and may not contact you directly.
4. Take good notes of your call. Or record it. Debt collectors take notes on their end. And if you have no notes, then they have the closest thing to an official record.
5. Have a copy of your credit report with you. Williams points out that debt collectors will have a lot of information about you and know about any other debts you have. So it’s helpful to at least have the same information in front of you that they have in front of them.
6. If you reach an agreement to pay back some of the debt, make sure you get a letter of discharge in writing. Via fax or via an emailed PDF. Don’t make any payment until you receive something in writing confirming that it’s settlement in full. They will try to get you to pay over the phone before it’s in writing. Resist.
For more information on the topic and to read the full article, go here: http://www.walletpop.com/blog/2010/09/07/secrets-of-the-debt-collection-biz-uncovered-by-a-reporter/
If you’re being harassed by debt collectors and are not sure where to turn, please contact me for a free initial consultation. You do have rights and you can fight back. You just need to know how to enforce them.
Contact Bruce Weiner, Esq.
EMAIL Bruce Weiner
Phone
(718) 855-6840 (Local)
(866) 402-8476 (Toll Free)
Fax (718) 625-1966
Go to Fair Debt Collection Practices Act to learn more about Rosenberg Musso & Weiner LLP and/or to set up a free consultation.
