If your rights have been infringed by a collection agency, you should bring evidence to court. Under federal law, it is illegal for the collection agency to continue to contact you after you have asked them to stop hiring. If you think bankruptcy isn’t the right debt relief option for you, consider a few alternative options such as credit advice, debt settlement, and debt consolidation. This usually means that your income and assets are exempt from collection.
What can debt collection agencies not do?
If you ever pay the amount you owe in full, obtain the written agreement regarding that debt and keep it as part of your records to prove it. Some debt buyers who buy and therefore own the debts they want to collect are not subject to the FDCPA. There are also companies that buy overdue debts from creditors or other companies and then try to collect them. Address135 Pinelawn Rd Suite 250N, Melville, NY 11747 A Tayne Law team member will respond within one business day.
How likely is it that a collection agency will sue?
If the amount is relatively low after taking into account the amount of current debt, court costs, legal fees, and interest, a collection agency may decide that a lawsuit is not worth the risk. If you’re being sued by a collection agency, you should understand what the process looks like in general — although the exact timeline varies from person to person. If you have accepted a verdict and are wondering how you can win a debt collection lawsuit, it is best to contact a debt collection lawyer.
References:
Barry Ritholtz is a renowned finance expert, author and blogger. With over 30 years of experience in the financial industry he has gained a reputation as a thought leader and influencer in the investment community.