HuffPo: Debt Collection Advice

The Huffington Post recently posted an article with advise on how to handle debt collectors. Some of the highlights:

1 in 10 Americans came out of the 2009 financial crisis with at least one debt in collections, according to the Consumer Financial Protection Bureau. The average amount was $1,400.
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First, you should get verification that the debt is actually yours. Within the first five days of contact, a debt collector is required under the Fair Debt Collection Practices Act to send you a debt validation letter. This letter outlines details about the debt being collected, including how much you owe. It should verify that you actually owe the debt, that the agency is authorized to collect the debt in the first place and that it has the documentation necessary to prove you owe the money. If the collection agency can’t come up with these items, you have 30 days to dispute the debt in writing.

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According to the Federal Trade Commission, this act prohibits debt collection agencies from:

Calling you between the hours of 9 p.m. and 8 a.m.

Contacting you at work if you indicated verbally or in writing that your employer doesn’t allow you to receive these types of calls

Contacting a third party about you for any reason other than to get your contact information

Telling a third party that you owe money

Harassing you or anyone they contact about you

Lying about how much you owe

Using deceptive methods to collect a debt from you, including claiming to be law enforcement, claiming you’ll be arrested if you don’t pay, using a fake company name and more

And finally:

If the collector contacts you via robocall, a prerecorded voice or an artificial voice, you can revoke your consent to receive such calls. “Debt collectors who continue to call after being told to stop calling often violate the Telephone Consumer Protection Act, and the caller may be liable to the consumer in the amount of $500 per call,” Petersen said. If the court finds that the debt collector willfully violated the TCPA, they could owe up to $1,500 per call, he added. “Debt collectors can continue to call the consumer’s cellphone, but they should no longer use a robo-dialing ATDS or prerecorded or artificial voice to communicate.” Debt collectors can also continue to send letters.