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  1. www.consumerfinance.gov › debt-collectionDebt collection | Consumer Financial Protection Bureau

    Basics. Why a debt collector is contacting you. A debt collector may be trying to contact you because a creditor believes you are past due on the payments you owe on a debt. Read more. Learn what could happen if you avoid a debt collector. Ignoring or avoiding a debt collector is unlikely to make the debt collector stop contacting you.

  2. consumer.ftc.gov › articles › debt-collection-faqsDebt Collection FAQs | Consumer Advice

    • What to Know About Debt Collection
    • What to Know About Old Debts
    • How to Report A Debt Collector

    What types of debts are covered under the law? Your credit card debt, auto loans, medical bills, student loans, mortgage, and other household debts are covered under the FDCPA. Business debts are not. Can debt collectors contact me at any time or place? No. Debt collectors can’t contact you before 8 a.m. or after 9 p.m., unless you agree to it. The...

    See full list on consumer.ftc.gov

    What if my debt is old? Debt doesn’t usually go away, but debt collectors do have a limited amount of time to sue you to collect on a debt. This time period is called the “statute of limitations,” and it usually starts when you miss a payment on a debt. After the statute of limitations runs out, your unpaid debt is considered to be “time-barred.” I...

    See full list on consumer.ftc.gov

    Where do I report a debt collector for doing something illegal? Report any problems you have with a debt collector to: 1. the Federal Trade Commission 2. the Consumer Financial Protection Bureau 3. your state attorney general Many states have their own debt collection laws that are different from the federal laws. Your state attorney general’s offi...

    See full list on consumer.ftc.gov

  3. www.nerdwallet.com › unpaid-debt-collectionsHow to Deal With Debt Collection - NerdWallet

    • Verify the debt. You have the right to demand debt validation and debt verification letters; use it. You should receive a validation letter from the debt collector within five days of first contact.
    • Know your consumer rights. Learn about your consumer rights under the Fair Debt Collection Practices Act so you know what collectors aren’t allowed to do — such as calling you at unreasonable times, threatening you with arrest or using obscenities.
    • Choose a debt payoff method or dispute debt collection. The two most common ways to handle a debt in collections are choosing a payoff method or disputing the debt as being in error
    • Never ignore a court summons for debt collection. Lawsuits for collections accounts are a common and efficient way for collection agencies to get payment.

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  5. www.nerdwallet.com › article › financeHow to Deal With Debt Collectors: 3-Step Guide - NerdWallet

    • Don't give in to pressure to pay on first contact. Just as you wouldn’t jump into a contract without understanding its terms, don’t rush to make a payment when a debt collector contacts you.
    • Gather the facts. When the original creditor sells a debt to a third party — which might go on to resell the debt again, and so on — recordkeeping often falls by the wayside.
    • Know your rights and how to use them. The Fair Debt Collection Practices Act is your ally. This law outlines your rights as a consumer and shields you from predatory collection tactics.

  6. www.consumerfinance.gov › ask-cfpb › what-is-a-debtWhat is a debt collector and why are they contacting me?

    Aug 2, 2023 · A debt collector is generally a person or company that regularly collects debts owed to others or who has the primary purpose of collecting debts. They’re likely contacting you because they’re trying to reach a person who may owe a specific debt. Debt collectors can include collection agencies or lawyers who collect debts as part of their business.

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  8. www.consumerfinance.gov › ask-cfpb › what-can-i-doWhat can I do if a debt collector contacts me about a debt I ...

    Aug 2, 2023 · Debt collectors are, in general, required by law to tell you certain information about the debt, and this information – also known as validation information or a validation notice – can help you learn more about the debt and dispute it if you don’t think that you owe it. Validation information must include: The name of the creditor. The amount owed

  9. consumer.ftc.gov › articles › what-do-if-debtWhat To Do if a Debt Collector Sues You | Consumer Advice

    Article. What To Do if a Debt Collector Sues You. If a debt collector files a lawsuit against you to collect a debt, it’s important to respond — either yourself or through an attorney. And remember, you have rights when it comes to dealing with debt collectors. Here are answers to some common questions you might have about the process.

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