Money, as a medium of exchange and transaction, has registered its inevitable foothold in the modern era. Income inequality has continued to widen, resulting in the accumulation of wealth with a few percentages of people, when compared to the remaining.
This unfavorable balance in money holding is neutralized by creditors loaning the required sum to their debtors. The problem starts when debtors are not able to repay the amount on time and gets harassed by creditors in various ways. They even resort to violent ways of getting the job done.
These violent ways do not always involve the participation of creditors. In many cases, they use the services of debt collectors to get back their money. Debt collectors are agents who or act on the behalf of the collection agency which they employed or act independently. They operate as a middleman collecting creditors’ overdue debts from debtors by using any possible even unacceptable ways for contacting the latter.
Therefore, it is imperative that you know your rights and ways to protect yourself from such situations.
1. Contacting Your Lawyer:
When you feel that you are not being treated in a good manner, it is always good to call up your lawyer, even before going on a rampage against the creditor. This way you will know whether the response you give him is right or wrong. In San Diego bankruptcy attorneys, there are bankruptcy lawyers for this purpose, like the ones in BLC Law Center, who can be consulted for free at first for discussing the legal possibilities in protecting and defending yourself up against the creditors.
2. Negotiating Appropriately:
Even before calling up your lawyer, you can try to negotiate with the creditor kindly. This is the most basic and no cost remedy that you could try, instead of avoiding their phone calls. Creditors are not always strict on deadlines and can be persuaded if they feel that you have a valid reason for not repaying the loan. The most important thing is to communicate your problem effectively and bring about a negotiating mindset in the creditor. He would even consider giving you a waiver. Sometimes silly reasons and a staggering voice could get the creditor agitated.
3. Notice Through Mail:
Once you are contacted, within 5 days, a notice should be sent to your mail regarding the amount of money you need to give and the creditor’s name. It also contains the steps you need to follow if you are being falsely framed up to give the money. This is a standard procedure to be followed.
4. Steps After False Due Amount:
After you are convinced that the amount you are required to pay is incorrect or you have been asked to pay by mistake, ask your attorney to write a letter on your behalf. If you feel that you should write the letter, attach evidence copies of whatever the debt collector has communicated to you until then. Once sent, they have to reply to you within a specific time as a legal obligation.
5. Action Against Threatening:
Even if you owe a big amount, you cannot be threatened or abused by the creditor. If you are satisfied that if the words are spoken or actions are taken to harass you in any way, you can sue them with the help of your attorney. You can also file a complaint if the creditors call your neighbors, family, or friends in your absence.
