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Collection Agency Law Quick Start Guide
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Debt Collection Laws Essentials
Here are the essentials of collection agency law to consider before referring a debt to collections. If you’ve been having a dispute with a customer about a debt, or aren’t quite sure how to explain collection agency laws to a customer, you should make sure you really understand your customer's rights regarding collection agency law before referring the debt to a collection agency. Collection Agency Law Essential:Collection calls shouldn't turn into harassment. When a client owes a debt, a call from the creditor is definitely not unusual. However, when calls get to be more than one a day, or customers are being contacted at work, the calls could turn into harassment, and violate collection agency law. In order to avoid dispute letters and possible court cases, be sure to be courteous and not overbearing. Make sure that any collection agency you go with takes the same attitude. Each State May Have Different Collection LawsThe best way to find out just what the collection agency laws are in your state is to obtain a copy of debt collection regulations from the state website. As of now, collection agencies are not required to have specific state licenses. But you’ll still want to double check to make sure that the collection agency you have hired is following the rules in your state. There are a number of websites you can check out, where you can click on your state to find out specific collection law facts, such as what interest rates are for the debt once it is in collections. Dealing With Debts That Are Not DebtsIt seems to be happening more and more each day: people winding up in
collections for debts they don't owe. Whether it's high-tech identity theft,
old-fashioned fraud, or just clerical errors, be sure to take any disputed debt
seriously. If a customer has proven that he or she doesn't owe a debt,
collection agencies are bound to remove the mistake from their credit by law, so
be sure to make the proper arrangements with credit agencies to have this taken
care of. Also make sure that the collection agency you are going with will
aggressively investigate disputed debts for the possibility of identity theft,
fraud, or clerical errors. Please note this website site not intended to give legal advice and may not be complete or up to date with the most current collection laws changes. |
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