How Debtors Should Handle Debt Collectors

Many Oak Park residents have struggled with debt at one point or another, and many continue to face seemingly constant calls from debt collectors. In some cases, debt collectors may be violating the terms of the Fair Debt Collection Practices Act (FDCPA), even when debtors legitimately owe money, by harassing debtors, calling at odd hours, threatening or intimidating debtors, and using other unlawful tactics. In other situations, debt collectors engage in unlawful behavior by attempting to collect on debts that the person being targeted does not actually owe, or attempting to file claims to collect on debts that have been time-barred by the Illinois statute of limitations.

When you already are struggling with debt and attempting to get on top of your monthly bills, having to deal with debt collectors can add enormous stress to your day-to-day life. A recent article in U.S. News & World Report provides some important tips for dealing with debt collectors.

Understand Who is Attempting to Collect the Debt
For consumers in Oak Park who do not actually owe a debt, they may be experiencing contact from a debt collection scam. In such cases, it is important to reach out to authorities to report the alleged debt collector. Yet for many people who are contacted by debt collectors, the debt is real. For those consumers, it is important to understand who is contacting you. As the article explains, consumers typically receive calls for debt that they legitimately owe from one of three different types of collectors:
  • Creditor attempting to collect on the debt you owe to that specific creditor;
  • Debt collection agency or lawyer who has been hired by the creditor to collect the specific debt you owe; or
  • Third-party debt buyer (which can include debt collection agencies) that has purchased your debt from a creditor and is attempting to recoup some of the money owed.
Debt collectors must provide you with information about who they are and how they can be contacted. Knowing who is attempting to collect the debt can help you to understand your rights.

Determine Why You are Being Contacted by a Debt Collector
Once you know who (or what) is attempting to collect your debt, it is essential to know what kind of debt the collector is attempting to collect. Any legitimate debt collector should be able to answer all of the following questions clearly and honestly:
  • What is the amount of debt I owe?
  • To whom was the initial debt owed?
  • What is the date that the debt became owed?
You want to be able to determine whether the debt is legitimate, and you also want to be able to determine whether the debt might be time-barred. The statute of limitations for debt collection means that collectors can not file a lawsuit against you to recover debt after a certain period of time.

Know Your Rights

Finally, whenever you deal with a debt collector, you should know your rights under the FDCPA and how to exercise them. The FDCPA prohibits debt collectors from:
  • Calling you before 8:00 a.m. and after 9:00 p.m.;
  • Calling you at work if you say not to do so;
  • Contacting a third party to attempt to collect on your debt;
  • Harassing you about the debt;
  • Lying about the amount of money you owe or when you owed it;
  • Pretending to be law enforcement;
  • Threatening that you will be arrested if you fail to pay your debt;
  • Threatening to take your property without filing a lawsuit; and
  • Giving you false information.
Contact an Oak Park Consumer Protection Lawyer
Do you need help dealing with debt? An experienced consumer protection attorney in Oak Park can help. Contact the Emerson Law Firm today to get started on your case.


See Related Blog Posts:

New Illinois Legislation Addresses Debt Collection Lawsuits
New Study Links Majority of Bankruptcies to Medical Debt

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