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Not paying your credit card bill can quickly lead to costly interest charges and fees. But if you continue to leave your bill unpaid for several months, you could also run the risk of your debt being sent to collections. When debt collectors start calling to claim an unpaid debt, remember that you have protections and rights under the law.
The Fair Debt Collection Practices Act protects you from "deceptive, unfair, and abusive debt collection practices," according to the Federal Trade Commission. Abusive debt collection practices "contribute to the number of personal bankruptcies, to marital instability, to the loss of jobs, and to invasions of individual privacy."
The law prohibits debt collectors from activities like calling you repeatedly or at odd hours, threatening you with violence, disclosing your personal information to third parties, and more. For example, debt collectors cannot contact you before 8 a.m. or after 9 p.m., and they cannot call you more than seven times within a seven-day period.
Debt collectors also are not allowed to tell other people about your debt. Though they may reach out to friends and family members to find out your contact information, they cannot discuss your debt.
#collection
Not paying your credit card bill can quickly lead to costly interest charges and fees. But if you continue to leave your bill unpaid for several months, you could also run the risk of your debt being sent to collections. When debt collectors start calling to claim an unpaid debt, remember that you have protections and rights under the law.
The Fair Debt Collection Practices Act protects you from "deceptive, unfair, and abusive debt collection practices," according to the Federal Trade Commission. Abusive debt collection practices "contribute to the number of personal bankruptcies, to marital instability, to the loss of jobs, and to invasions of individual privacy."
The law prohibits debt collectors from activities like calling you repeatedly or at odd hours, threatening you with violence, disclosing your personal information to third parties, and more. For example, debt collectors cannot contact you before 8 a.m. or after 9 p.m., and they cannot call you more than seven times within a seven-day period.
Debt collectors also are not allowed to tell other people about your debt. Though they may reach out to friends and family members to find out your contact information, they cannot discuss your debt.
#collection
2 months ago
