Another Tool to Deal with Debt Collectors

I just posted a couple of great posts on the Have Good Credit blog that I hope you’ll take a look at. However, there’s a letter I uploaded to Scribd that I want to share with our readers here because I’m sure it’s relevant to what many of you are dealing with.

I know that some of you are still struggling with the “morality” card being played by the banks. However, just because someone says you owe a debt doesn’t necessarily mean that you owe it. Even if you think you owe the debt, disputing it is still a good idea. What if the debt collector can’t verify the debt?

This is a lot like the produce the note argument. I think we should all be examining things a bit closer. How did the debt collector get the right to collect the debt? That’s one question I’d be asking. If the calls and letters continue without verification, there are some other things you can do to escalate, but that’s another blog post.

Something else I want to mention about debt collection: there may be an identity theft component to the harassing phone calls. The other day I received a call from someone who said they were affiliated with a company I do business with, and asked me to verify my birthdate and the last four digits of my social security number.

I told the woman that I wasn’t telling her anything because she called from an unknown number and I had no idea who she was. I don’t think you should ever give out your personal information to anyone who calls you for information unless you have a reason to expect the call. She wasn’t particularly happy with me, but I’m sure she’ll get over it.

Here is a Fair Debt Collections Practice Act dispute letter that I use to dispute debts with debt collectors. I always send these letters by certified mail within thirty days of getting a call or a letter from them. If you don’t send it certified mail, I guarantee you the calls and letters will continue.

FDCPA Collections Dispute Letter

My personal opinion is that debt collectors should ALWAYS be forced under the law to communicate with debtors in writing. On a very basic level, this helps you remain sane while figuring out how to deal with your financial issues. It also helps you maintain a paper trail in case you decide to escalate things if the collection turns into harassment.

I hope this helps you! Please let me know if there are other things you’d like help with by posting in the comments or send me an e-mail to christine@desertedgelegal.com.

DISCLAIMER:
****CHRISTINE SPRINGER IS NOT A LICENSED ATTORNEY OR FINANCIAL ADVISOR. THIS BLOG IS COMPRISED OF HER OPINIONS, OBSERVATIONS AND INTERPRETATIONS AND IS NOT INTENDED TO BE CONSTRUED AS LEGAL OR FINANCIAL ADVICE. PLEASE CONSULT WITH AN ATTORNEY OR FINANCIAL ADVISOR BEFORE RELYING ON OR TAKING ANY ACTION BASED ON THE INFORMATION IN THIS BLOG.****

DEBTORS REVOLT BEGINS NOW! YOUTUBE Video

UPDATE: Video now has over 200,000 views on YouTube.

Bank of America increases the interest rate on credit card customer of a 14 years. This customer was not late, behind on payments or over her balance limit. Some of the language is not suitable for youngsters and work but the message is real and is represents the next wave of default.