DISCLAIMER: We are not lawyers and are not giving legal advice. We strongly recommend speaking to a professional attorney.
If you’ve been contacted by a debt collector, you may hear all sorts of claims. If this is your first time, you may not understand your rights – and yes, debtors do have rights! Check out these myths and scare tactics used by debt collectors so you can handle these annoying contacts.
Know Your Debt Collector
Myth – Believe Everything You Are Told!
Debt collectors may be wrong – always double check your records make sure you owe the debt. Dishonest collectors may try to collect an old, canceled, or paid off debt. The debt collector is required by law to send you a letter within five days with the creditor’s name, the amount owed, and informing you that you can dispute the debt.
Insist that they send you a debt validation before you pay anything!
Once you receive the debt validation letter, you have thirty days to dispute the debt in writing. The debt collector cannot contact you within those thirty days.
Myth – You Can Pay the Original Creditor
Nope. In most cases, the original creditor and the debt collection company have an agreement preventing the original creditor from accepting payment. In some cases, your debt has been sold to a collections agency.
Myth – All Debt Collectors Work for Real Companies
The debt collector could be a scammer! Often, these people will go after debts that are past the statute of limitations or that are not valid. Get a name, address and phone number and check them out before doing anything.
Always ask for a debt validation before you do anything!
If you are being harassed by creditors and need debt relief, contact Pacific Debt immediately to receive your FREE CONSULTATION.
Find out more details about our Debt Relief Program.