Menifee, CA Credit cards is an one example of an unsecured debt. An unsecured debt is a debt where they can’t take away your car or house. A secured debt has something as collateral, such as your car, house, or anything else of value.
When you stop paying an unsecured debt, the creditor will call you nonstop. The reason is because they don’t have any other way to collect from you.
Creditors of an unsecured debt already know they cannot take your house. So, typically a creditor will make up for this by calling you constantly with harassing phone calls. Creditors use deceptive tricks to get you to pay them. For example, there are Federal Laws that regulate what creditors can do or say. Creditors are not allowed to threaten to sue an than not follow up with by filing suit and have gotton very good at using languae that implies one thing and actually mean another.
We heard of an example where a debt collector used a name of a law firm when calling to collect a debt. They would then leave messages on people’s answering machines. They would say they were with the office of Law Offices and then say they may resort to future legal action. In addition, they would reference a case number. If you didn’t know any better, you would think the case number was for an actual lawsuit against you. Scary, right?
Rarely do credit card company's sue or attempt to garnish wages. Judgements expire without getting paid. and alot of creditors get paid off when a person’s income increases, or that person sells a valuable asset such as a house.
If you are receiving harrassing phone calls ask the person calling for the fax number and/or mailing address. In the letter you can request the creditor to stop calling you. Your letter should request that the creditor stop calling you to collect a debut and be sure to mention the Fair Lending Law and the Fair Debt Collection Practices Act.
Send the letter return receipt requested. You can also get the letter to the debt collector quicker by faxing. Debt collectors know they can be fined for not acknowledging your written request.
Be sure to keep a log of calls and you can also tell the debt collector the call is being recorded.
If you would like a list of the Fair Debt Collection Guidelines, please contact me at 951-315-3201 and I would be happy to provide.
Sherry 'K' Kotvis, MS
WWW.MyForeclosureRepair.com
Serving Menifee, Temecula, Murrieta and the Surrounding Areas.
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