Having debts is unfortunate and unavoidable.
You mustn't run away from debt because it will make your situation worse.
If you have decided to overcome your debt issues through debt settlement, I would like to share with you some important information related to your rights as a debtor.
First thing first, you should be aware that you are protected under the Fair Debt Collection Practices Act.
All the debt collection matters are regulated by this act.
If you have accumulated a large sum of debt, it is for sure that you have received many non stop phone calls from your creditors.
Are you aware that the collection calls can only be made between 8.
00am and 9.
00pm? Moreover, if you are currently working, the creditors are not supposed to contact you during working hours.
If your creditors call within the period of time, you can inform them that your employer prohibits such phone calls.
Once you have decided to appoint an attorney or a debt settlement company to handle your debt issues, you must NOTIFY your creditors or debt collection agents.
You can inform them through phone or in writing.
Let the creditors know that you have got third party to represent you on your behalf.
Once the creditors are made aware of this matter, they are not allowed to contact you directly.
All the communications with the creditors will be handled by your attorney or the service provider.
You don't need to bother how the negotiation is done between the settlement company and your creditors.
You just need to deal directly with the service provider and ask the representative to update you the progress of negotiation.
You will definitely have a peaceful mind in life.
Knowing your rights as a debtor is indeed important because you should not let the creditors to take advantage on you.
Don't be scared when you are threatened by them.