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

LocateSmarter Reveals Features of New Online Skip Tracing Application

LocateSmarter, LLC, a new online batch skip tracing application has recently announced its patent-pending features. LocateSmarter is a subsidiary of CBE Companies, founded in 2012 as a Business-Process-as-a-Service (BPaaS) company. It works to improve efficiency of batch skip tracing by sending your records to several data providers at once-with LocateSmarter you can send your files to one centralized location and receive information from multiple sources. [ Read More ]
07/23/2014

Accelya's REVERA Next to Propel GoAir Even Higher

Airlines have to operate in very challenging environments, and as the airline industry evolves changing business models, constant pressure of industry and regulatory compliances call existing practices into question. GoAir, one of India's fastest growing airlines, thus decided to address the challenges of its revenue accounting process, and turned to Accelya for help. [ Read More ]
07/23/2014

EGS to Sell Part of Accounts Receivable Management to Platinum Equity

To increase focus on its core business segments and services, Expert Global Solutions (EGS) is selling certain segments of its Accounts Receivable Management (ARM) business to Platinum Equity, a Los Angeles-based private equity firm specializing in business operations. The dollar value of the transaction has not been disclosed yet. The sale of Transworld Systems, Inc. will include Transworld Systems, Education, Attorney Network, Healthcare Bad Debt, Government and U.S.-based Third Party Collecti… [ Read More ]
07/17/2014

e2b Teknologies Wins New Customer for its Anytime Collect Solution

e2b teknologies, publishers of Anytime Collect accounts receivable management software, has recently won a new customer for its Anytime Collect for automated QuickBooks accounts receivable management. The name of the company has not been disclosed. [ Read More ]
07/17/2014
FREE Accounts Receivable Management enewslettter.

Events

Weekly Live Demo
Contact Center Solutions

Register Today!


Weekly Live Demo
CaaS Small Center

Register Today!