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Debt Settlement

June 17, 2009 by DebtGeniusNo Comments Tweet this post

Debt Settlement

Have you received a threatening call from a bill or debt collector?

This is an important question because Bill and / or Debt Collectors are not afraid to use Myths against a Debtor. One of the Myths is that the Sheriff will show up to your door to arrest you for not paying your debt. This is a frightening Myth that many Debtors fall victim to.

Nancy had never been so scared. A Debt Collector called and informed Nancy that a Sheriff would be showing up at her door to arrest her, for an unpaid debt.. Nancy had an unpaid Loan.

There is no real reason to fear the Sheriff coming to your door to arrest you for the debt.

You can be arrested if you defy a Judges Order to pay a debt (depending on the State). I informed Nancy that not being able to pay her loan was a “Civil” dispute and not a “Criminal Act”. I told her that a Sheriff could come to her door about the debt, but arresting her for that debt is very unlikely. I told her that it’s more likely that a Sheriff would come to “Serve” her a Summons to Court for the Payday Loan.

How can you eliminate the threats and Myths of a Debt Collector?

1. Inform them that you are aware of your rights.

Under the Fair Debt Collections Practices Act [F.D.C.PA.]. By Law, Debt Collectors are required to read what’s commonly known as the “mini-maranda”. Once they read you the Mini-Maranda statement, it’s your turn (as the Debtor) to inform the Debt Collector that you are aware of your rights under the F.D.C.P.A. .Also inform them that you are documenting the call to protect yourself against any violations of Federal Law.

2. Document the Call and Important Information.

Make sure you document the name, employee I.D. number and address of the Debt Collector. This is an important step, that will provide you leverage later. This is because Debt Collection Firms often have high turn-over due to the stress and demands of the Job. Documenting the important information of each call will also help you if you find yourself in Court.

If you are unsure of your rights, seek the advice of a Debt Settlement Specialist. It’s a free consultation, and you’ll learn how for no charge to you, a Debt Settlement company can halt those harassing calls.

For more debt-freedom resources, visit our website.

  Filed under Debt Settlement, Information on Personal Debt

Tags: Debt Settlement

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