Collection Agencies

 

If collection agencies are banging down your door (and phone), bugging you for money, there is something you can do about it. 

You basically have three different options to choose from:

1.Pay the money and get rid of them that way

2. Live in fear of the phone ringing and always trying to avoid the collection calls

3. Deal with the collection agencies to resolve everything WITHOUT paying them the entire amount

While you can certainly chose either of the first two options, often option 1 is not realistic, otherwise you would have already paid them by now.  Also, option 2 is not very much fun and can cause a lot of stress in your life.  This basically leaves option 3.

In order to effectively deal with collection agencies, you need to understand your rights.  By knowing what you are entitled to and what the collection agency can (and can’t) do, you can make smart decisions that help you out of this situation.

Your Rights.

Under the Fair Debt Collection Practices Act, enforced by the Federal Trade Commission, you have rights when it comes to dealing with collection agencies.

However, many people do not know what their rights are and because of this lack of knowledge, they allow the collection agency to walk all over them. 

By reading this section, you will understand what your rights are and will be a powerful force when it comes to dealing with collection agencies in the future.

On the next page is a list of questions and answers to help you understand what your rights are (as stated by the Fair Debt Collection Practices Act).