Consolidating debt loan us
Consolidating debt loan us - smart dating com
It is unlawful for a debt collector to attempt to collect more than the amount originally agreed upon – whether the agreement was in writing or not.
The debt collector is not required by law to cease collection efforts if you merely call the debt collector about your dispute.Written dispute of the debt is best accomplished by sending your complaint to the debt collector by certified mail return receipt requested.Keep a copy of all correspondence you send to the debt collector.The debt collector has 30 days after receiving your written request to determine whether or not the disputed item is correct. The debt collector must notify anyone who has already received a report containing the incorrect item.It can happen to anyone: you suffer a financial set-back like the loss of a job, and you are unable to make timely payments on a debt. Sometimes the creditor will refinance or otherwise modify the agreement to give you a chance to catch up. A consumer having difficulty paying a debt can contact the creditor, explain the circumstances, and offer to work out a payment plan.
It is to the creditor's advantage to avoid bringing in a debt collection company.However, if it begins to look like you will not be able to pay the debt within a reasonable time, the creditor may sell it to a debt collection company for less than the face value of the debt.Then the debt collector will try to collect the debt, up to the full amount, from you.In any case, the law does provide you with some protections against creditors or debt collection companies trying to collect money you may owe.The activities of debt collectors in Texas are regulated by the Texas Debt Collection Act.The Act prohibits the use of fraudulent and abusive collection tactics by individuals or corporations to obtain payment on outstanding debts against a debtor.