As we reported in our last post, more than 77 million Americans currently have debt in collections, including many Wisconsin residents.
We also explained how having debt in collections can do a lot more than hurt your ego. It can hurt your credit and prevent you from qualifying for loans in the future. That’s why we said that the debt in collections needs to be addressed right away.
Of course, dealing with debt collectors is no easy task. Perhaps the most important thing when it comes to dealing with debt collectors is to know your rights. Thanks to the Fair Debt Collection Practices Act, there are safeguards in place to protect you from being harassed or taken advantage of by debt collectors.
Here are a few of those rights you should know about from an article by Bankrate:
You have the right to receive a written notice within five days of the debt collector contacting you detailing the following: The name of the creditor, the amount of money you allegedly owe, and what you should do if you don’t believe you owe the money.
You have the right to dispute the debt and stop the debt collector from contacting you. If you send a letter stating you do not owe money within 30 days of receiving the written notice, the debt collector cannot continue to contact you.
However, the collection efforts can continue if the agency furnishes proof of the debt, such as a bill.
You have the right to be protected from the following treatment and behavior: abusive or obscene language, repeated or harassing phone calls, calls too early or too late, calls at work, misrepresentation of the amount you owe, talking to anyone but you and your attorney about the debt, false claims and false threats.
Our firm has been helping Wisconsin residents deal with debt collectors and debt problems for years. Find out more by visiting our Milwaukee Stop Collections Attorney page.