FDCPA

Are Debt Collectors Calling You?

Published on: September 12, 2015 | Frank Coxwell

If you are getting debt collection calls you are not alone. About one in seven people in Mississippi is being hounded by a debt collector. Buying debt and debt collection is a billion dollar business and becoming a larger, more complex industry. The original creditor sells their debt to a debt collector, and often they sell the same debt multiple times meaning that multiple debt collection companies are attempting to collect the same debt! Debt collectors often attempt to collect from the wrong person, overstate or inflate the amount owed by adding collection fees, and even attempt to collect debts that are not real (may have been paid in the past or was never a debt to begin with).
Along with these abuses, details of the original debt are lost or outdated. Creditors selling debt are basically selling lists that have contact information and amounts owed – and little more than that in way of details. Collectors then may have a mixture of valid debts, debts that have been since settled, or debts that are past the statute of limitations and can no longer be collected. It’s not clear exactly how many consumers are wrongly harassed for accounts that are not their debt. Debts purchased by the large debt-buying firms have no documents, contracts or other proof of the debt. Your debt will be sold to a debt collector for pennies on the dollar. It’s not just the original credit that sells debt. Debt collection companies then may sell the lists they have purchased to other debt collectors, who may then sell it to another, then another, and another. It’s not uncommon for people to all of a sudden be receiving debt collection calls and letters about something that happened years ago but now, the debt has shown up on a list that has been sold to another company, and here we go again. Continue Reading ›

Yes, You Can Stop Debt Collectors From Calling

Published on: September 23, 2014 | Frank Coxwell

Yes, you can stop debt collectors from calling you. Federal law, the Fair Debt Collection Practices Act, (“FDCPA”) requires debt collectors to stop calling if you send them a written request. Once your written notice for telephone calls to stop has been received by a debt collector, financial penalties of $500 to $1,500 can be awarded per violation.

What You Need To Do To Stop Debt Collection Calls:

1. Write a letter setting out your name and address.

What If a Debt Collector is Abusive?

Published on: September 22, 2014 | Frank Coxwell

The Fair Debt Collection Practices Act (FDCPA) prohibits abusive and deceptive collection tactics. This means that the debt collectors cannot insult you, threaten you, trick you, lie to you, or harass you with phone calls at all hours. This law applies only to third-party debt collectors and does not apply to a creditor collecting their own debt.
If you feel you a debt collector is being abusive, you can sue them under the FDCPA. Mississippi has zero consumer protection laws and there is no regulation of debt collectors. Creditors collecting their own debts are free to abuse you in Mississippi. You can complain to the state attorney general’s office if it makes you feel better, but don’t expect anything to come out of it. But you can stop the calls – click here to find out how. And you have options on how to deal with your debt overall – I can help.