Debt Collectors Misbehaving: Know Your Rights As A Debtor

Online, February 12, 2010 (Newswire.com) - During this horrible and quite expected turn of events for the world economy most of us have had or still have debts on us that are getting heavier everyday. Creditors only focus on one goal. Retrieve the debt that you owe them, period. They do not care about your personal life or your reputation or anything else for that matter. This may sound harsh but actually they have every right to behave this way. They are your creditors; you owe them money that's it.

Even though they have every right to act inconsiderate (as stated in the contract) the debtors i.e. us, have rights to. Therefore everyone should be well aware of the limits of pursuance exercised by the creditors and when they are crossing them.

Your wages cannot be attached to your debt. Even though they might threaten to do that they do not have the right to take this measure. It is only possible in the case of a lawsuit where the creditors win and the settlements dictate for this step to be taken. Then and only then can they have any rights over your paychecks?

Threats about repossession of property and other assets is a popular instance. Debtors may have the right to carry out such an action if the credit has been given against the asset in question for example mortgages and car leases. Other than that you don't have to be stressing about the repo guys.

Calling up in the middle of the night or while at work is another practice adopted by many creditors. This obviously inconvenient and embarrassing if someone is very peculiar about their privacy. A letter can shut them up as they are abiding to do so by law. A complete stop to any practice of contact can also be put in place.

Discussing your financial matters with your friends, relatives, family or co-workers is also not permissible at all. Your financial problems are only your business.

Debt collectors are trained to get you angry so that you might lose your cool and do something stupid that could be used against you. Stay calm and follow the law. It guarantees the safety of our rights. Being in debt is NOT a crime. Following is a list of limitations for creditors as by the Connecticut Law (this can be find on the Legal Services Network of Connecticut website);

"Threaten to harm you or someone else, or your property or reputation;
Use obscene or profane language;
Contact your neighbors, relatives or employer to get them to ask you to pay a debt;
Repeatedly use the telephone to annoy anyone by calling at unreasonable hours or an unreasonable number of times;
Telephone any person without the caller identifying him or herself.

It is illegal for creditors or collection agencies to make false statements when trying to collect a debt. They cannot:

Falsely suggest that the debt collector is an attorney;
Falsely suggest that you have committed any crime, or will be arrested or imprisoned if you do not pay your debt;
Falsely state that the debt collector represents the United States government or a state government;
Falsely state that papers being sent are papers from the court, when they actually are not;
Use any false name.
Falsely suggest that they can take money benefits such as Social Security disability, pension, retirement, child support, alimony etc."

Remember you have rights as the debtor. Don't get scared and know your rights. If you are in a tough situation contact the relevant authorities as soon as possible.