1. I am from the Legal Department and you are being sued.

From my experience less then 2% of all debts listed to a collection agency ever result in formal legal proceedings and in most cases legal costs required to initiate a lawsuit have to be advanced by the collection agency. From a business perspective, it makes no sense to throw good money after bad hoping to recover the legal costs and the debt if you do not have enough assets available to satisfy the judgment being sought after. It's just not worth it to the collection agency. Bill collectors use the "legal department" threat only because it is scary and most people don't know better. The fact is that most bill collectors sit in a tiny 3"x 3" cubicle and pretend to be someone they really aren't on the phone.

2. I am going to garnish your pay cheque.

In order to get any piece of your pay cheque, the bill collector needs a judgment from a court in their favour but the collectors will not seek a judgment unless they have reason to believe that you have enough assets to satisfy a judgment. Pursuant to Section 7(2) of the Wages Act (Ontario), no more than 20% of your wages may be garnished. A creditor can bring a motion to increase the amount of wages that may be garnished but a debtor also has the right to bring a motion to have such amount decreased. I have heard Collectors tell people they will garnish 50% of their pay but the truth is that even if they get a judgment, garnishments rarely exceed 15-20% of pay. Again they only use the threat because it scares people and most don't know any better.

3. If I don't have payment by 4 p.m. today, we are (Insert threat here).

Bill collectors are paid a commission to do their job and so are the managers that are breathing down their necks in order to hit their targets. Some aggressive bill collectors can make six figures annually if they push people hard enough. They will tell you anything if they feel that it will result in a payment and a bigger commission cheque for them.

4. Pay in full, monthly payments are not an option.

They want full payment from you because they make more money off you when you pay in full. Payments are always an option; in most cases going directly to the creditor will get you a monthly payment plan. It won't fix your credit but you will at least be able to stop the demand for full payment.

5. Collectors can call you as much as they like.

Pursuant to Section 22(6) of R.R.O. 1990, Regulation 74 to the Collection Agencies Act (Ontario), there are restrictions on the frequency of calls that collection agencies can make to you. Despite what they may tell you a bill collector cannot harass you. If you register a letter requesting the collection agency to communicate with only in writing the calls should stop otherwise you can escalate their behavior to their ombudsman or provincial ministry to take further steps.

6. Collectors can call and harass your family, friends and neighbours.

A collection agency can only contact a third party to confirm your home address and telephone number or your employer to confirm your employment, title and business address; that's it (Section 22(3) of Regulation 74 to the Collection Agencies Act). If the collector divulges details about the debt or tries to embarrass you, there are steps you can take to deal with and stop this behavior.

7. Bill collectors can talk to you any way they feel.

Bill collectors can be obnoxious and rude; many think that insulting people will get the debt paid. Collection laws prevent this type of behavior reoccurring if you escalate it and deal with the issue. If you feel that they have mistreated you by using profanity, intimidating or coercive language, you can certainly stop it. They will most certainly deny the activity so a tape recorded conversation or voice message will be your best friend here.

Collection agencies and bill collectors have a bad reputation because they are a business like any other whose goal is to generate profits for its shareholders; its their job to push you hard to pay. There are ways to deal with the debt and their behavior but it takes time and a certain investment in researching your rights. Try not to avoid the debt but find a way of dealing with it. The only way to stop the collection activity is to pay the bill or go bankrupt. If you can pay the bills in full, do so as soon as possible.

If payment of your bills is not an option due to extreme financial hardship, you may wish to explore bankruptcy by consulting with a Trustee in your local yellow pages. Going bankrupt will most certainly deal with the debt but since it's detrimental to your credit rating, it should only be used as a last resort. Also, a Trustee is a court appointed agent for your creditors so even though you pay them for their service, the Trustee is looking after your creditors' best interests. Your debts are wiped out but so are most of your assets subject to certain limited exceptions and your credit report shows the effect for 7-10 years.

Debt settlement should be considered as an alternative to bankruptcy since it is quickly becoming one of the newest and best options in Canada to retire debt quickly and ethically. A debt settlement company will act as your agent, and negotiate a settlement with your creditors. Once the settlement is paid, the balance is written off and your credit report is updated to reflect that the debt is finalized. The time frame to settle debt can be anywhere from 1 month to 36 months depending on your ability. This is often the least expensive, least damaging to your credit and the fastest path to debt freedom.

Remember that bill collectors make a living off of trying to scare and intimidate people so they can earn a big commission cheque. Consider the source when they call and don't let bill collectors push you around, you have rights and can fight back and win!

Popularity: 2% [?]

Are pending bills or debt collectors your recurring nightmare?Are you in fear of becoming homeless or without a vehicle of your own?Then this is the time for you to leap into action before you lose your home or have to stand in the bankruptcy line.

The solution may be to approach organisation who deal with Credit Card advisory debt compilation non profit and seek their assistance in easing the debts. This will also give you a breather assuring yourself that you are doing something to settle your debts.
Would you like to know how a Credit Card advisory debt compilation non profit organisation can help you;

1.Reduce your credit card payment by 70%
2.Merge your payments into one low instalment
3.Credit advisors can talk to your creditors to reduce your payments
4.Immediately your interest charges and debts will be reduced
5.Now put your legs up and the credit card advisory debt compilation non profit organisation can look after your settlement of your bills to creditors
6.Your creditors will stop calling you for payment
7. You register with this company and your bills will be settled on time.
8. Monthly statements willl come to your door step informing you about the payment schedules
9. Creditors will also send you the statements

Credit cards generally charge annual interest between 18% to 24%. When you settle the bill with minimum payment then by the time you are through with your payment it will be 30 odd years. But with the assistance of the Credit Card advisory debt consolidation company not only your interest rate will come down but late fees may be eliminated in certain cases. With this arrangement your creditors will be happy because they are receiving the payment regularly and your credibility will also go up. Its a win win situation and you will settle your debts in a much shorter time.

In all this the foremost factor is the credibility of the debt consolidation organisation. Before you finalise any agreement with the organisation it is important to see that the money you pay is not used for their own benefit instead of looking after your interest. There have been instances where the client's bills were not paid on time thus damaging the client's credibility.

Please ensure the exact amount you will be charged as a fee. You also need to ensure that the money will be paid to your creditors immediately after you pay the debt consolidation organisation. If you spell out everything then debt compilation can be a boon otherwise a bane.

Over the years, a good credit card advisory debt compilation non profit organisation can assist you to win back your credibility and help you in your other financial matters. Only thing is that you should be confident of the organisation you deal with.

Popularity: 2% [?]

At one point in time my life was absolute hell. Living in fear of answering the phone because I knew it was a debt collector. I was looking for a way to stop the collection calls once and for good. They would call me at all times of the day and night, weekends, holidays, it just didn't matter. I would answer the phone and feel like I was being attacked, it almost felt like I was in court being tried and found guilty of not being able to pay my debt. And believe me they can make you feel guilty alright. It's their job, Relentless people with no heart or care for your situation whatsoever. Finding a way to stop collection calls was near impossible.

As manipulative as they were, I was able to manipulate them. But it was only for short time. I would ensure them that I would pay my bill and give them some kind of outline how I would ensure my financial obligation. This would stop collection calls from coming to the house. But when the payment was not made it was back to the same old cat and mouse game.

Unable to make payments, I needed to find other arrangements to start paying off my debt. Something that I could handle and make my monthly payments. Then I found it, I discovered organizations that could help stop collection calls. Organizations who's sole purpose is to deal with debt collections and help put your life back on track. These are nonprofit organizations that are able to consolidate all your bills into one lump sum and give you a monthly payment that you can handle.

A debt settlement company is extremely easy to talk to and will only take a few minutes out of your day. They literally take on your whole debt for you and can even stop collection calls. They are even able to sometimes have your interest rates dropped to 0%. Which can make life a lot easier on you.

Having the ability to lift my head out of the water and not feel like I was drowning was a huge relief. How would you like to feel the same way? Unfortunately if you wait too long they may not be able to help you. This is why you need to act now and stop collection calls from ruining your life. I found out that waiting to long can have dire consequences. Such as liens on your account, losing your job, and basically deemed an outcast in the financial world. This can become an embarrassing situation for you. Avoiding this embarrassment is as easy as picking up a phone and making a quick call take the initiative and change your life before it's too late.

Popularity: 2% [?]

Are you a woman who is in debt?  Whether you have debt solely from attending college, from credit cards, old medical bills, or a combination of them all, you may be scared, unsure, and frustrated.  In today's society, with regularly rude calls from debt collectors, you may be feeling as if your debt is causing you to become insane.  Yes, it may seem like the end of the world, especially at first, but it is important to remember that your debt doesn't have to the be the end of you.

As previously stated, a large number of debt-ridden women in the United States have problems with debt collectors calling at just about all hours, as well as having rude attitudes. The last thing that you will want to do is allow a debt collector to get you all worked up, no matter how they act or treat you.  If you feel that you cannot take it anymore, you do not have to.  At any point in time, when speaking to a debt collector, you can simply hang up the telephone.  More drastic approaches have been used by women including screening all telephone calls with the use of caller id or an answering machine.

Although you may not be interested in speaking with a debt collector, you may want to think about doing so.  Often times, you will find that debt collectors stop calling or at least reduce the number of calls that they place to you once they are able to at least speak with you. So, if you are feeling up to it, go ahead and answer that phone. Just be sure not to make any payment arrangements that you cannot keep. Also, be sure to check the statue of limitations in your state.  In some states, such as New York, the statue of limitations on when debt can be collected is six years.

Another one of the many reasons why debt is so stressful and such an issue for many women is because they feel helpless and hopeless when they are unable to pay their debt.  What you need to remember though is that there are always ways that you can go about working to pay off your debt, even if it is just a little bit at a time. It may seem silly, but paying off your debt, even if it is only twenty dollars here and there, is likely lessen the burden and stress that you currently feel.

If you would like to get out of debt, but you don't know how, you may want to consider making an appointment with a debt reduction specialist or an accountant. While this professional assistance will cost you a little bit of money, upfront, it is well worth it for many women; women just like you.  That is because the professional assistance of debt reduction specialists and accountants may be able to help you get your life back on track.

Although the cost of seeking professional assistance is more than worth it, you may not necessarily have the money to spend. If that is the case, you can still work to get yourself out of debt and settle this stressful issue once and for all. What you are urged to do is examine your spending habits.  You may even want to record all of the purchases that you make during one weeks time. How many of those purchases can you live without, even just temporarily? As previously stated, paying off your debt, even in little increments, may be able to help reduce the stress often associated with unpaid debts.  So, even if you are only able to save two dollars on a soda each day, that should provide you with twenty dollars a week to put towards your debt.

In short, debt is an issue that many women must face and deal with each day. Although it may seem like it, debt doesn't have to be the end of you, as outlined above.

Popularity: 6% [?]

The FCBA settlement procedures apply only to disputes about “billing errors.” For example:

Unauthorized charges. Federal law limits your responsibility for unauthorized charges to $50; Charges that list the wrong date or amount; Charges for goods and services you didn’t accept or weren’t delivered as agreed; Math errors;

Failure to post payments and other credits, such as returns; Failure to send bills to your current address - provided the creditor receives your change of address, in writing, at least 20 days before the billing period ends; and Charges for which you ask for an explanation or written proof of purchase along with a claimed error or request for clarification.

Other billing rights Businesses that offer “open end” credit also must: Give you a written notice when you open a new account - and at certain other times - that describes your right to dispute billing errors; Provide a statement for each billing period in which you owe - or they owe you - more than one dollar; send your bill at least 14 days before the payment is due - if you have a period within which to pay the bill without incurring additional charges; Credit all payments to your account on the date they’re received, unless no extra charges would result if they failed to do so. Creditors are permitted to set some reasonable rules for making payments, say setting a reasonable deadline for payment to be received to be credited on the same date; and Promptly credit or refund overpayments and other amounts owed to your account. This applies to instances where your account is owed more than one dollar. Your account must be credited promptly with the amount owed. If you prefer a refund, it must be sent within seven business days after the creditor receives your written request. The creditor must also make a good faith effort to refund a credit balance that has remained on your account for more than six months.

Suing the creditor

You can sue a creditor who violates the FCBA. If you win, you may be awarded damages, plus twice the amount of any finance charge - as long as it’s between $100 and $1,000. The court also may order the creditor to pay your attorney’s fees and costs.

The Fair Debt Collections Practices Act (FDCPA), which regulates debt collectors. http://www.ftc.gov/os/statutes/fdcpa/fdcpact.htm

The Fair Debt Collection Practices Act prohibits debt collectors and collection attorneys from using undue harassment and other unethical practices when collecting debt.

What debts are covered?

Personal, family, and household debts are covered under the Act. This includes money owed for the purchase of an automobile, for medical care, or for credit cards.

How may a debt collector contact you?

A collector may contact you in person, by mail, telephone, or fax. However, a debt collector may not contact you at unreasonable times or places, such as before 8 a.m. or after 9 p.m., unless you agree. A debt collector also may not contact you at work if the collector knows that your employer disapproves.

May a debt collector contact anyone else about your debt?

If you have an attorney, the debt collector may not contact anyone other than your attorney. If you do not have an attorney, a collector may contact other

About The Author: Drew Canole, is President of Waterfield Credit a credit education, and repair company that has been in business for 5 years. Drew, has just recently published The 57 Day Challenge To A 720 Credit Score. For some more Free information check out http://www.57daychallenge.com

Popularity: 2% [?]