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Debt Collection FAQ

debt collection infographic

Debt Collection FAQ

Collecting debt is very important for many businesses that trade on credit without directly paying. For many people, including businesses themselves, the debt system can be hard to understand. It is crucial to understand problems for businesses.

Many creditors don’t know their rights to debt collection under the Fair Debt Collection Practices Act (FDCPA). This is where this blog and action come in.   

Frequently Asked Questions About Debt Collections 

People often wonder about debt collection issues. The questions and answers will be given below. 

How Can You Confirm If A Debt Collector Is Genuine?  

Ask for the person’s name, workplace, home address, and phone number. If required, request the professional license number if your state gives out licenses to collect debts. It’s best to wait for a written letter before discussing any money owed. 

Make sure the debt collector is real before sharing any personal or money details. Look out for tricks by debt collectors when you work with them.

How Can Debt Collectors Get In Touch With You?

Debt collectors might call you on the phone, send private messages through social media, or give letters, emails, and texts. The way they contact you depends on the company they have hired. This means what contact details the company has about you. Besides, debt collectors can also reach your home upon digging up. They use this to request that you owe a debt to be paid.

How To Stop Debt Collectors From Contacting You? 

Write a note to the people who take your money and ask them not to call or bother you anymore. Make sure you keep the letter or email record for yourself. You may want to use a recorded post for the letter or email to get proof of delivery confirmation. This will prove that the one who needed it got it.

There are some jobs that a debt collector should know – not to call when you’re working. It’s like when someone is driving an ambulance, collectors of debts can’t call them.   

What happens if a debt collector keeps calling you at your job even after asking them to stop? 

You can take the debt collector to court if they don’t follow FDCPA rules. You can begin a lawsuit in either state or federal courts. The FDCPA allows you to get up to $1,000 in damages according to the Constitution for each rule broken.

Can Someone Who You Owe Money Freeze Your Bank Account? 

If a collector can’t get money from you, they might sue in court. This lets them take your money from the account as payment for what you owe.

If someone you owe money wins a court case, they can stop your bank account from being used until the debt is paid. This method is frequently referred to as “taking” or “stopping”.

Conclusion 

What the Debt collection law says every debt collector must obey. The federal Act protects the rights of those who owe money. But often, people have questions. The answers to those usual questions are given above. 

If you would like more information about debt collection, specifically in the trucking and shipping industry, reach out to our expert team at AW Collection today by giving us a call or filling out our online contact form.

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