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How To Deal With Collection Agencies

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How to deal with Collection Agencies

Dealing with a collection agency can be a nerver racking experience if you are not prpared.  You do not have to be intimidated by them.  Here you will find many useful links if you are dealing with a collection agency.

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* The 6 Credit Repair Myths Collection Agencies Doesn't Want You to Know About
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* How Repairing Your Own Credit Can Prevent Your From Losing Hundreds and Thousands of Dollars
* How to Reduce Your Debt to Pennies on the Dollar and in Some Cases Eliminate it All Together

Before you pay a collection agency you need to read this.

Why should you pay a collection agency? Well I can give you a few reasons why you should not or under what conditions you should. Take time to view some of my essays below.

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Click Here To Get Your Report "Get Collection Agencies Off Your Back!"

The first thing you must do is educate yourself

Here you will find many resources to educate yourself in dealing with collection agencies

Federal Law that Governs Collection Agencies
Here you will find the best weapon in dealing with collection agencies. The Fair Debt Colletion Practices Act governs what collection agencies are and are not allowed to do. The laws regarding collection agencies make it a tough job for them. The sad thing is most collectors would probably do well as salespeople or telemarketers without having to break the law. I am glad that I do not have to break the law to earn a living.
Federal Trade Commission Opinion Letters
Here are a list of "opinion letters" issued by the Federal Trade Commision. These letters are the FTC's interpretation of the Fair Debt Collection Practices Act. These are not legally binding, however they do provide alot of insight into the FDCPA.
Individual State Laws
Here you will find information regarding your individual state laws. Sometimes your state laws have more teeth than the FDCPA. If that is the case your Sate Laws carry more weight in court. If a collection agency in South Dakota calls you in Texas they better be licensed in Texas.
The Fair Credit Reporting Act
Have an error on your credit report? Collection Agencies not reporting things properly. The FCRA has plenty of teeth if used properly it may be your second most important tool with an inline phone recorder being number one!!
State SOL Information
Find Information here on your home States Statute of Limitiations (SOL). Sometime Collection Agencies will file suits on debts that are outside of the SOL because if you dont show up they win..

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Collection and Credit Repair Forums

Need to ask a question specific to your situation? Here is a list of forums that may have your answer. If you cannot find your answer ask and ye shall receive.

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The Credit Info Center Forums
These guys and gals know what they are talking about. If you want to improve your credit scores or are dealing with collection agencies you will find your answers here.
CreditBoards
Creditboards.com: Learning how to maximize your credit opportunities; how to repair your credit; how to raise your FICO scores; how to deal with collectors and collection agencies; what your rights are under the FDCPA and FCRA.em
Debt Collector Arrested for Impersonation Federal Agents
Take a look at this thread at CI.com you may have to register to do so, this stuff is priceless. Collection Agents posing as Federal Agents

Need Proof that they are Breaking the Law

If you are dealing with a collection agency that may be breaking the law there are some valuable tips and tricks that may help you. Take all of this advice for what it is worth. FREE if in doubt consult an attorney as I am not one

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"Can We Tape?"
Most collection agencies will break the law if you get on the phone with them. Federal Law gives you the right to tape a conversation without the others consent if they are breaking the law. Each State Law is different here you will find all that you need to know.
Free Credit Reports
Did you know that you are allowed a free credit report every year? Get your free credit report not some hype to get you to buy somthing. One of way a collection agency violates the law is by not placing an account that is listed on your credit file "In Dispute" after you have sent them a letter requesting validation. See my blogs for more info on this..

Resource for notifiying Government Agencies and other organiztions

Many links here for available resources on reporting debt collectors to the various agencies. If you are getting nowhere in negotiating with a collection agencey this is your first line of defense.

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FTC Complaint Form
If you run into an abusive debt collector who you feel is breaking the law this is the first place you need to go.

Report each incident seperatly. Provide consise information. Although the FTC may not intervene directly in your situation, if they get enough complaints on a specific company they will step in!!
BBB Not alot of teeth but BBB complaint will show that you attempted to resolve your problem with a company prior to litagation
FILE A COMPLAINT:
If you think that a company or charity has treated you unfairly, file a complaint online.

A collection agency Called what now?

A step by step guide on how to deal with collection agencies when they are calling you or sending dunning notices.



Tips and tricks to watch them rack up the violations of the Fair Debt Collection Practices Act

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Interesting Articles

Having trouble with you bills??

Sometimes bad things happen to good people. You will find a collection of news articles that relating to overcoming finincial problems.

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How to not pay your bills - MSN money
Most stories about dealing with debt assume you have the money to pay most or all of your bills. That's not always the case. Thanks to bad planning, bad decisions, bad luck or a combination of all three, sometimes you just don't have the scratch.
SOS: Trapped in payday loans - Yahoo! News
Think twice before getting a payday loan. Is it really worth it?
Who is Calling You? Litigious Consumer: A guide for striking back when companies break the law..
An interesting site about various collection agencies and telemarketers.

Consumer Feedback

Very Informative

A site very much like PFB that post consumer gripes and cheers aabout companies. If you have specific problems with a particular collection agencey go here and find out how much they harass others before you take it personal.
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Federal Trade Commission (FTC) - Consumer Protection Press Releases

Find out who the worst of the worst are here.

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Reestablishing Your Credit

If you found this page chances are your credit need some help

Here is a list of links that will help you reestablish your credit or get loans with less than perfect credit. Just remember you got here because you had problems don't create more.

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Credit Cards for Bad or New Credit
A good directory of credit cards for those with less than desirable credit or just starting out. Remember that credit cards can be your best friend or worse nightmare. Proceed with caution
Auto Loans for New or Bad Credit
An intensive directory of auto lenders for people with bad or new credit. Never let the dealership finance a car for you if you have poor credit. They will make more on the financing than on the car. A difference in 1% APR on a car loan could save you thousands over the live of the loan.

Please take time to sign my guestbook

Just drop a line and say hi!!

  • howtobuildcredit Oct 4, 2010 @ 9:56 am | delete
    great lens and great info espeacially for sharing some many useful links in dealing with a collection agency,will credit this and save...
  • angela Jul 7, 2008 @ 9:49 pm | delete
    I wrote blurb the other day.
    Do you actually respond to these?
    If so, where to I find the answer to by blurb?
  • Jun 6, 2010 @ 10:19 pm | delete
    Interesting article. More information about Washington bankruptcy and Oregon bankruptcy at our website www.baxterlaw.com
  • GARY MILLER Feb 23, 2008 @ 9:12 am | delete
    YOUR INFO HAS BEEN VERY HELPFUL. THESE RUDE SMARTASS COLLECTION PEOPLE. GIVE YOU AN ATTATUDE WITH THERE FIRST WORD. even if your intentions are to make your debt right. makes you want to fight back . THANK YOU
  • Monty Loree May 3, 2007 @ 4:48 pm | delete
    Can you add http://www.canadian-money-advisor.ca as a resource... I'm sure you have Canadian visitors who visit this site... We help people regarding collection agencies in Canada.
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StoptheAbuse

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