Credit card consolidators are companies that are setup in order to consolidate your credit card payments. You will not longer be paying credit card companies directly, but will begin to pay the consolidators directly.
Credit card companies will find a way to get their money. When you are no longer paying your payments to the credit card companies you will be opening yourself up for receiving collection calls. These collection calls may begin with your credit card company and then work its way up to 3rd party collectors that can be extremely rude and aggressive.
Several new laws have been passed in order to make sure that debtors remain somewhat protected. The large amount of debt means that there are a lot of people who are receiving a great deal of harassing phone calls, and the new laws have tried to at least somewhat protect against these harassing phone calls.
Collectors can be quite abusive, but with the new laws in place this means collectors now open themselves up to being sued should they not follow proper laws. They will not only be required to pay damages, but can also be required to pay attorney and court costs as well.
Some of the rules and regulations that have been passed, but are not limited to:
1. Disclosing information regarding your debts to third parties.
2. Misrepresenting the character, amount, or legal status of your debt.
3. Threatening to take any action that cannot be taken legally.
4. Accusing you of having committed a crime.
5. Threatening criminal action against you.
6. Claiming to be affiliated with any governmental organization, including, but not limited to, claiming to be a member of law enforcement sheriff, police, FBI, etc.
7. Threatening to communicate false credit information about you to credit reporting agencies.
8. Using any deceptive method to collect a debt from you.
9. Calling you before 8:00 AM or after 9:00 PM.
10. Attempting to collect a debt from you that you do not owe.
11. Making false, deceptive, or misleading representations in debt collection efforts such as non-payment will result in garnishment of wages, seizure of property, or lawsuits, or that they or their agents are attorneys when in fact they are not.
12. Attempting to collect more than you actually owe.
13. Using profane language.
14. Being rude and abusive.
15. Withdrawing money from your bank account without your express informed consent.
16. Depositing checks before the date of the check.
17. Using threats of violence or harm
18. Repeatedly using the phone to annoy you.
19. Falsely representing to you that they operate or work for a credit reporting agency.
20. Sending you anything that looks like an official document from a court of government agency if it isn't.
21. Using a false company name.
22. Contacting you by post card.
An attorney in your state can provide debt settlement advice that will enforce and protect your rights under this Act.
Melvin R. Singleterry, is a practicing attorney who specializes in consumer debt law including debt reduction, credit card debt negotiation and debt settlement, and unsecured debt relief. Singleterry, who holds Bachelor and Master of Arts degrees from Oklahoma State University and a Juris Doctor from The University of Oklahoma, has practiced in both State and Federal Courts. He has been a trial attorney in both civil and criminal cases and has served as a Court Appointed Trustee in Federal Bankruptcy Court. His practice has included criminal law, corporate law, contracts, personal injury, family law, and consumer law, etc. He has represented consumers, corporations, banks and financial institutions.
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