Accounts Receivable Management Featured Article

Know What to Do When Debt Collectors Come Calling

September 27, 2012

In these particularly tough economic times, it can be pretty easy to fall behind on paying off bills you might owe. Sometimes, we might even find ourselves the subject of a phone call or letter from a debt collection agency. The problem arises when we run abreast of a debt collection agency that might not be operating on the up and up or might be using techniques that are meant to scare us into paying off our debt quickly. 

The United States has a ton of laws on the books that are geared toward making sure that when a debt collection agency does contact us they are fully complying with the basic tenets of basic fairness.

If a debt collector does contact you the Better Business Bureau wants you to know that there are a couple of rules that agency must follow. The first is that while the company can contact you by phone, mail, in person or by fax they must do so between the hours of 8 AM and 9 PM. This rule is in place so that collectors cannot harass you early in the morning or late at night, if you do receive a call outside of these hours you should contact authorities. 

The agency must also stop contacting you if you send them a letter stating that you do not owe the money they claim you owe inside of 30 days after they have first contacted you. The Better Business Bureau wants you to make sure and take care of this; especially if you truly believe that you do not have any outstanding debts. Unfortunately, there are plenty of companies who have actually told people they owe money they do not, and then basically extort their victims into paying huge sums in order to get the agency to leave them alone.

Should you believe you are being harassed and that the collection agency is not acting in good faith you should contact your state Attorney General’s office. In the past year, there have been many cases where people have fought back and won against debt collection agencies that were engaging in illegal practices. Don’t feel like you have to give in just because you got that initial phone call or letter, especially if you don’t actually owe the money.

Want to learn more about the latest in communications and technology? Then be sure to attend ITEXPO Austin 2012, taking place Oct. 2-5, in Austin, TX. Stay in touch with everything happening at ITEXPO (News - Alert). Follow us on Twitter.




Edited by Brooke Neuman

Article comments powered by Disqus

Related Accounts Receivable Management Articles

ICM Introduces a New AP Center Referral Program

Accounting processes can get complex and tedious, if done without right tools and technologies. Thankfully, there are countless solutions that make accounting accurate and easier for users. [ Read More ]
08/28/2014

Wells Fargo Launches Startup Accelerator Program

Helping startups in the financial technology sector to accelerate their business, Wells Fargo will be accepting applications for the new Wells Fargo Startup Accelerator. This semiannual boot camp seeks to help technological innovators in the field of finance who facilitate customers to have smoother operations in areas like payments, deposits, fraud, and operations. [ Read More ]
08/26/2014

LendProtect UK Inks Deal with Engaged CRM

LendProtect UK partnership with Engaged CRM looks to helps financial services analyze lending performance. [ Read More ]
08/25/2014

SaaS Provider Offers Accounts Payable Improvements to Material Handling Company

A global software-as-a-service company that provides enterprise content management solutions through the cloud announced last week that it has opened up a contract with a "leading material handling equipment company." [ Read More ]
08/18/2014
FREE Accounts Receivable Management enewslettter.

Events

Weekly Live Demo
Contact Center Solutions

Register Today!


Weekly Live Demo
CaaS Small Center

Register Today!