One of the great things about tapping into a community of users is the range of expertise which YOU can provide. One of our most esteemed users, Lawsome, has years of experience in personal finance and the legal issues surrounding consumer credit and debt. She submitted the first of many excellent entries on how to manage debt and personal finance:
STOP CALLING ME!!!!
Do you find yourself screaming this very phrase at the top of your lungs to debt collectors. Only to receive the same phone call the next day. No matter how good it makes you feel this will not get rid of annoying debt collectors. In this day an age, these types of calls are becoming far too common and the average consumer needs to be equipped with tools to protect themselves.
FDCPA [PDF]… These five short letters are the cure to the common debt collector cold. The Fair Debt Collection Practices Act details several do’s and don’ts for the collection industry with very serious consequences for violations.
How do I make them stop?
Two words, Cease and Desist. These two words stop debt collectors in their track. However, there is some action required on the consumer’s part. Calls can be halted by simply telling the debt collector that you have mailed/faxed a cease and desist letter an any further communications concerning the debt shall be via USPS.
The second step is tricky. You have to actually mail/fax the letter. If these simple steps are followed you will be able to freely answer your phone with or without the use of caller ID.
Until next time, remember, credit is bondage don’t become a slave!
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