If you owe money to a Calgary consumer credit facility, there are certain steps you must take to avoid paying more than the minimum. When a debt collection agency contacts you for a debt payment, you should never say no unless you understand the agreement between you and the company. If you have any doubt about the agreement, do not sign. If you choose to ignore the debt, the collection agent may follow through with legal action to collect the balance of the debt from you. To protect yourself from debt collectors, you should always be in communication with the debt collection agency.
Some consumers find themselves unwittingly at the mercy of debt collection agents. Debt collection agents commonly target seniors and the disabled. They call late to obtain the late fees, which cause the consumer to pay even more interest, as the default continues. The debt collection agency uses intimidating tactics to obtain money from these vulnerable individuals. If contacted by debt collectors, do not answer the phone or provide personal information.
The best way to avoid the debt collection agency is to avoid debt altogether. For those unable to do so, the Consumer Credit Counselling Corporation (CCCC) offers classes on responsible debt management. Credit counselors help clients develop a workable budget and educate them on debt management. Many of these same professionals also work with debt collectors on a regular basis. A good debt counsellor can provide information on debt settlement and debt consolidation.
In both situations, you will need to consult with a debt professional first. The debt collection agent has likely already done his or her homework on you and your circumstances. When working with the debt collection agency, your debt professional is already familiar with your situation. Because the professionals are working side by side with you, they can better determine how much of a role you play in your debt. You are the one who must be careful to not allow the debt collection agent to control your lives because of debt collection calls. You are the one who must decide how much help you want from debt professionals.
When you contact a credit counsellor or a debt collection agency to get your finances in order, they can inform you of your rights under the Fair Debt Collection Practices Act (FDCPA). The FDCPA outlines when a debt collection agency can contact you and how they can go about collecting a debtor’s funds. Knowing your rights, you can work more effectively to prevent debt collection agencies from harassing you can find ways to settle your debts quickly.
Once you know your rights, you may have to work more actively to use them. The FDCPA outlines when a debt collection agency can contact you and how they can go about collecting a debtor’s monies. One such instance is when you write to a debt collection agency to inform them that you will not pay an overdue bill. If the debt collection agency attempts to follow through with this threat, then you have the right to send them a Cease and Desist letter. This letter gives them a clear legal notice that they are required to cease contacting you until they give you notice that you do in fact intend on paying the debt.
If you want to know more about the rights that you have as a consumer, you can contact a lawyer who specializes in consumer law. A lawyer can give you the advice you need as well as explaining why you should contact a credit counsellor or debt collection agency in the first place. They may even tell you whether or not you are legally entitled to certain types of debt assistance. For example, you may be able to get free credit repair help, or settlement services.
However, you should keep in mind that once a debt collection agency starts harassing you, it is not your fault. Therefore, you may not have to worry about whether or not you are legally entitled to these debt collection services. It may actually be better for you to let them harass you instead of taking any legal action. But when it comes to repossession, it is always best to seek help from a debt collection agency before any legal issues arise. This way, if you do end up in court, your debt collection agent will have much more at risk than you do.