Debt Consolidation

3 Steps You Can Take To Get Rid Of Debt Collectors

If you are looking out for ways on how to get rid of debt collectors, you will glad to know that the federal and state laws are on your side. The laws have provided you certain rights in this regard. You have the right not to be harassed in any manner – be it physical or psychological – even if you are unable to make the repayment on certain debts. Inability to repay a loan or debt is not a criminal offence unless you have acquired those debts as part of some fraudulent activities. In general, lenders or collection agencies cannot file a criminal lawsuit against you, which means you cannot be sent to jail for nonpayment of debts. However, civil lawsuits can be filed against you, which often result in wage garnishment or liquidation of certain assets or properties that you own, that too, if the court issues such an order in this regard lenders and collection agencies cannot garnish your wages or sell of your asset on their own without a court order to recover their debts. Such activities are illegal and you can file a criminal lawsuit against such lenders or debt collectors. However, despite all the legal provisions, debt collectors are still busy in harassing debtors in various ways. For example, they give harassing phone calls, and if you do not respond to the calls, they leave harassing messages (including threats). Following is a brief rundown on some of the steps you can take to get rid of such harassment.

Write A Dispute Letter

In order to get rid of debt collectors, the first thing you have to do is to check whether the debts they are trying to collect belong to you at the first place. Even if those debt accounts are in your name, you need to confirm if the statute of limitations have already passed. If the age of the debt accounts is very old and the statute of limitations has already passed, you cannot be legally held liable to repay those debts. If that is the case with you and you are still getting harassing calls from debt collectors, you should write them a dispute letter and ask them to provide you the proof of debt. If they do not provide you a valid proof within thirty days after receiving the dispute letter, they will lose the right to sue you for debt.

Negotiate A Repayment Plan

While you are trying to get rid of debt collectors, do not avoid their calls or notices. The best way is to face them and discuss your situation with them. Since they are also interested mainly in debt recovery, they are likely to give you an attentive ear. I9f they find that your situation is genuine and you are going through some kind of financial hardship, they may consider your proposal to set up a new, affordable repayment plan. When you start making the payments as per the new plan, the harassing calls will automatically be stopped.

Sign Up With A Debt Management Company

If you owe multiple debts to different creditors and the total amount of debt is overwhelming, you may consider using the services of a debt management company, as they can also help you to get rid of debt collectors. They will talk to the debt collectors on your behalf and will try to convince them to waive off penalty charges and reduce interest rates and to make the terms more favorable so that you can make the repayment easily. However, it is very important for you to keep in mind that the debt management company will not offer this service for free. Therefore, you must inquire about the fee in advance, before you sign any agreement. If they are helping you to save $1000 on your debts but are charging you $1500 as their fee, you obviously should not use their services.

If things are very complex and you juts do not have any idea on how to get rid of debt collectors, you can consider hiring an experienced lawyer.

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