You can’t even discuss the matter with anyone other than you, your spouse, or your lawyer. Collection agencies may contact third parties to try to track you down, but they may only ask them for your address, home phone number, and place of work. And if you don’t pay a court fine related to your debts or refuse to pay taxes or child support, you could go to jail. For example, this law prohibits debt collectors from using obscene language or threatening you with violence if you don’t pay.
What can debt collection agencies not do?
Since collection agencies buy debt for a few cents on the dollar, they have pretty high profit margins when they collect the amount they originally owed. And in the case of a collection agency that infringes your rights, a lawyer can tell you whether it is appropriate to file your own lawsuit. Address135 Pinelawn Rd Suite 250N, Melville, NY 11747 A Tayne Law team member will respond within one business day. Remember that after someone dies, collectors can contact their family or their executor to discuss repaying the debt. However, you can’t misrepresent whether someone is required to pay that debt.
However, if it remains unpaid long enough, they may decide that it is unlikely that they will ever recover the debt.
References:
- Handling Debt Collection Calls: Dos and Don'ts | Nolo
- https://www.investopedia.com/articles/personal-finance/121614/5-things-debt-collectors-are-forbidden-do.asp
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.