Know The Law When Dealing With A Credit Collection Company
- By: Rob Sutter
Working for a credit collection company in this economy is a lucrative job. Countless Americans have found themselves being contacted by collection agents. Debtors are trying to overcome their debts, but the thing that stops them from fully committing to the recovery process is the fear that the collection agent is dishonest and will try to use intimidation tactics to force the debtor's hand.
There is a certain code of conduct that debt collection companies must adhere to when communicating with a debtor in order to obtain a recovery. These codes of conduct are mandated at both the state and federal level. Late in the 70s, the United States Government passed the Fair Debt Collection Practices Act. This act clearly outlines prohibited and required conduct by collection representatives. The totality of the act is available on the internet.
Communication with a collection agency should never be feared by a debtor. When the phone rings, and you have an inkling that the call is in regards to a debt, then you should answer the phone. If the phone call or questions asked make you wary, then all you have to do is tell the representative that you would like to be contacted at a later date or time. Remember to take down all their information before you hang up so that you are able to research them and their company.
A reputable company will never try to intimidate or bully a debtor into payments. The collection agent represents a credit collection company, and as a representative they want to present a professional air. They do not want to sully the name of their company, and risk losing other clients for the company when word gets out how the company handles debtors. If an agent is unruly and rude, then the debtor is encouraged to refer to collection rules and seek their best options of recourse.
Do not be afraid of working with a collection agency to exterminate your debt. The sooner you overcome a debt, the sooner you can rebuild your credit. Just remember to know your debtor rights and well as how a collection agent is obligated to handle themselves during telecommunication as well as written correspondence. Do not let anyone take advantage of you or your situation because you were not correctly informed.
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