Harassing refers to an unwanted communication, either by phone or personal visits, and understanding creditor harassment laws can prevent these unwanted intrusions from strangers. If it is legitimate, the person will know the person or persons communicating. And society's mounting debts creditors are the number one reason so many complaints are being given to harassing.
The best protection for any consumer wanting information on the creditor harassment laws is to look at the Office of Fair Trading and their financial guidelines, better understanding what is fair or unfair in regard to debt collecting. This agency enables creditors to lend money to consumers as long as it is done legally, also setting guidelines for collecting. The OFT issues the creditors' "Consumer Credit Licenses." As long as the guidelines are followed, fair practices of money lending and collecting allow the businesses to stay in business. Otherwise, they will not.
As most attorneys will tell a person in regard to creditor harassment laws, the best way to avoid creditor harassment is to pay bills on time. A simple statement, a simple solution. But this is easier said than done, when natural occurring situations happen to every one of us at one time or another. Individuals do not go into debt on purpose, or as a way of life—even though it appears that way to several. Creditor laws are to help creditors regain a debt owed either to them and this is fair, but meanwhile what about the debtor? Creditor harassment laws are available to protect the debtor or consumer from the illegal and ruthless practices of creditors, attempting to regain a debt owed in any manner they can. Granted, not all are like them, but many are.
A big thing to do in applying steps of the creditor harassment laws is to decide whether or not the bill is actually legitimate. Do not take the creditor's word about it, ask for verification. This is a changed world, and if a buck can be made at someone's expense—well, we know what happens with scamming. Request a written report from the original creditor or the creditor's representative—"especially" if the debt cannot be remembered.
Another thing when looking at creditor harassment laws is to look at who the debt is owed to and what payment plans were set up, if any. At this point, it needs to be decided whether or not the bill is legit. If it is not, then some sort of proof needs to be showed that it was paid. If not, contact the creditor and set up some sort of payment plan with them, regardless how old the bill is.
If the terms are refused, and the creditor harassment continues, write a letter to them using the guidelines in several online law agencies, such as the Fair Debt Collection Practices Act or the Office of Fair Trading, following the legality of both agencies to take the creditor to court for harassing.
Not being able to pay bills on time is about as bad as not being able to pay them at all. It is also mentally exhausting, with every phone call and knock on the door causing most to wonder, "What to do when a creditor keeps pestering you?" In the fast-paced world of today, society is overwhelmed by financial mental, physical and emotional stress, the cause of most divorces and relationship break-ups with the main culprit a serious lack of money, over-spending, and a resulting path of never-ending unpaid bad debts.
What most people do not realize is that credit is not longer what it used to be—what to do when a creditor keeps pestering you is an actual fact based on one thing—and the consumer or debtor can be protected. There are many federal laws controlling the credit company's polices, with the relationship between the customer and the creditor not having much influence on it, as only the federal government is in charge. To avoid financial issues, there are signs that an upcoming financial problem is developing:
• The credit card balances rise each month, instead of going down.
• Money is gone before the end of the month, if not sooner.
• Savings are dug into in order to pay off monthly living expenses most months.
• One credit card is used, or maxed out, in order to pay off another.
• Calls or letters from creditors because of past-due bills.
If any of these signs are beginning to develop, a financial problem is coming down the road with bankruptcy right around the corner unless other options are derived first. Basically it feels that there is a battle going on—the people against the bill collectors—with very little outstanding advances in income, and the question, "What to do when a creditor keeps pestering you?" becomes a way of life.
Most consumers know very little about finances, unless they are professionally or personally involved in it. And very few realize that debt collectors are comprised of lawyers and debt collection agents, buying accounts that have been written off by original creditors or banks, and then turn around and develop a harsh relationship with the non-paying consumer until that debtor is faced with the question, "What to do when a creditor keeps pestering you?". The creditors usually get paid 25% of what is collected, and debts are sold on the market. It is a new business, many preying on those who are unfortunate and cannot pay their bills for one reason or another.
The question of what to do when a creditor keeps pestering you has many alternative answers that will prevent debts for others to make a living on, and a lot depends on the type of debt involved, the situation involving the loss of money, and the arrangements that can be made with the creditor through direct communication with the original creditor—all of this is preferable to bankruptcy, where a person's credit is ruined to the point only high-priced interested businesses will touch them.
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