2006-12-12 01:29:37 · 13 answers · asked by Anonymous in Business & Finance ➔ Credit
When they call do you talk to them? The reason why I ask is that they are only allowed to make contact with a borrower a certain amount of times. If they are speaking with you or leaving a message too many times they can get in trouble for it. Now if they call your phone but dont leave a message, that does not count as a contact and they free to call back multiple times in a day. Read the actual Fair Credit Reporting Act on the FTC's website to know your rights. You do have rights under this act.
2006-12-12 01:40:58 · answer #1 · answered by Martin Chemnitz 5 · 1⤊ 0⤋
Read www.daveramsey.com his books (either The total money makeover or Financial Peace Revisited) tell you how to deal with creditors. His books also give you a plan to pay off your debt. One debt at a time. Deal with one creditor at a time, settle one debt then move to the next one all the while making minimum payments. He has a plan if you can't pay the minimum payment on how to inform the creditor and what to send in with your payment and that will keep the calls a little bit at bay.
He is on the radio in many areas or you can listen to him live on the Internet from 2-5pm EST. www.daveramsey.com
Good Luck!
UPDATE: I just read a response about tell them to put you on the "do not call list" also known as the Cease and Desist Order, if you do this you are asking to be sued by the company you have the debt with, they will stop calling you but they will drag you to court and get a judgement/garnishment against you.
2006-12-12 12:55:36 · answer #2 · answered by mldjay 5 · 0⤊ 0⤋
As someone else said, you can't really stop the calls without making the situation worse. But you can reduce the number of calls.
A creditor may only call once in ten days, IF a 'contact' is made. By 'contact' is meant a meaningful conversation.
Thus when they call, promise to pay 'next Friday". They may not call before then, and if you are mailing it, before the following Monday. Make sure you sound sincere.
Meanwhile pay the creditor who is least past due, and get that one up to date. This stops late charges and calls from that creditor.
Keep working on the least behind.
The others will get further behind, and may charge off, but if you can't pay, you can't pay.
Better to be past due on three with three late charges, than six with six late charges.
2006-12-12 09:58:34 · answer #3 · answered by Anonymous · 1⤊ 0⤋
Just asking them to stop calling is not enough, you have to send requests in writing. At that point they will no longer be able to call you on the phone, but they will continue to send letters.
You have to talk to these debtors. All credit card companies are willing to make settlements after a period of time, because they believe that you're probably not going to pay them anyway, so any money they get is a bonus. I was 5 months delinquent, and made a deal to pay $30 dollars a month on a balance 0f almost $3,000.00. I did it for a year, and then they reinstated my credit line. If you are vigilant and really have the desire to get yourself out of debt, you can do it, and the companies, amazingly enough, will actually help you to do it.
2006-12-12 10:10:01 · answer #4 · answered by Ricardo Montalban 2 · 0⤊ 1⤋
I leave my phone off the hook and use Callwave to answer my calls. If someone calls I want to talk to, I just hit the *Answer the Call* button so I don't miss anything important. This is also very nice since I have two young babies in the house and I don't need the phone ringing constantly waking them (or me) up!
2006-12-12 09:33:31 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Tell them to stop calling you, they are required by law to refrain from constantly harassing you or else face fines, and if they call your bluff, tell them that you will report them to the FTC for violating the Fair Debt Collection Practices act.
Also... read that act, it clearly states your rights when it comes to people trying to collect debts on you, and protections you have against their actions and what they can and can't do.
http://en.wikipedia.org/wiki/Fair_Debt_Collection_Practices_Act
2006-12-12 09:33:50 · answer #6 · answered by Anonymous · 0⤊ 0⤋
All you have to do is write them a "cease and desist" letter (C&D). Those are your rights under the Fair Debt Collections Practices act.
Simply write a one-sentence letter that reads like this, and that will stop ALL of the calls and mail:
"According to my rights under the FCRA and FDCPA, do not contact me again about this debt in any way, shape or form."
That's it.
2006-12-12 10:29:14 · answer #7 · answered by Kevin K 3 · 0⤊ 1⤋
Call them and work out a plan to pay everything back. If you stick to the plan you both agree on they will stop hounding you and you will get out of debt quicker.
2006-12-12 09:38:06 · answer #8 · answered by Anonymous · 0⤊ 0⤋
They won't stop calling until you talk to them and work out a payment plan to show them that you are willing to pay.
2006-12-16 02:10:15 · answer #9 · answered by luciousgreeneyedlady 5 · 0⤊ 0⤋
Tell them to stop calling, change your phone number, stop being a deadbeat and pay the darn bills.
2006-12-12 09:36:42 · answer #10 · answered by ? 4 · 0⤊ 1⤋