Laws in your credit repair

There are certain laws in your credit Repair; issued for people that have bad credit and to know these laws is important to protect all those involved in your life. The Federal Legislation and several other agencies including the Fair Credit Reporting Act (FCRA) protect you from?collection agencies?and creditors. If you have bad credit you want to read this article especially if you are being harassed by creditors or else threatened. First, we are going to look at what steps debtors can take to protect their status.?

Debtors have the right to ask collection agencies or any source hassling them for debt collection to stop hassling them. You must contact the collection agencies immediately and request that they stop communication with your completely. It is important to word your letter wisely avoiding giving them ammunition against you. You can do this if your collection agency has claimed a lawsuit against you, or if the date has ended, where the creditors can no longer contact you.

Collections agency in your credit repair

If the collection agency has written several letters or made several phone calls threatening you with a lawsuit; you can write an informal letter asking the agencies to stop nagging you. You have a current debt, it is wise to negotiate with the creditors; since some may reduce your balance or even drop the debt completely. If the debt is older than seven years, you mustn’t communicate with a collection agency regarding the bill. During the seven years, the account should have removed from your credit report. If it has not these people are in violation.

There are several reasons why creditors will disregard lawsuits. Some of those reasons include reductions in their chances of winning the suit. If your debt is old then collectors avoid paying high attorney fees to collect the balance. Therefore, knowing is glowing when you have bad credit. If you owe a debt, you have the legal right to protect yourself against creditors. The best solution is to stop ignoring the problem and find a solution to repair your credit. Problems do not go away, rather they add up more problems.?Credit repair is?a deduction so you do not want to add on more than you can take.

Law in your Credit Repair

Collection agencies under the law cannot correspond with you by sending mail to your address with symbols or labels. Collection agencies cannot call your mom and dad, or any family member regarding your debt. The collection agencies are obligated by law to cease communication if you have subpoenaed to court.

Collection agencies are under law to avoid calling debtors after 9 pm or before 8 am. (Some laws state that the collection agencies cannot call after 10 pm and before 5 am.) If you have an attorney and the collection agencies know this and call anyway, immediately file a complaint to the proper agencies regarding the action. It is important to document all information when you are in debt. This can protect you when the moment arises. If you have a job and a collection agency calls your work environment he or she violates the law. (Note: If your employer allows calls, the law may not be effective) Collection agencies are prohibit from impersonating law enforcement or government officials to collect a debt. At no time is a collection agency allowed to make available to the public information regarding your debts.

Law for collection agencies

Collection agencies are prohibited from sending letters, making phone calls, or acting out any form of communication that insinuates false impersonation.

It is also against the law for collection agencies to repeatedly call your home requesting you or threatening you to pay the debt. If a collection agency pones your home, they must comply with the law and identify their name and the company’s name within one minute of the phone conversation.

Finally, collection agencies are prohibited to list debtors on the ‘deadbeat’ list. Many laws and regulations apply to both collection agencies and debtors. Therefore, when you know the law you have the strength to protect yourself and a possible solution to avoid the law. If your credit is bad, the first step to resolve is paying your dues and knowing the laws.

Information in this email is for information purposes only. Always contact your lawyer if you need legal advice.