If you fall behind on your accounts, you may begin to receive calls from your credit card issuers. Initially, these may be courtesy calls to make sure that you did not forget to pay or otherwise lose your statement. As you fall further behind, collection calls can become more offensive.
Collection calls can be a nuisance that disrupts your daily life. Calls can come throughout the day and even on the weekend. Creditors may call your family, neighbors and even your employer to locate you. Such calls can be embarrassing and can jeopardize your relationships and employment.
You are protected from harassment by the Fair Debt Collection Practices Act (FDCPA). However, collection agents routinely violate your rights under the FDCPA. The correctly assume that most cardholders do not know their rights. If these calls are becoming inconvenient for you, you can request that they cease and desist all telephone calls to you or anyone else regarding your debt. This does not in any way reduce your liability for the debt, nor does it protect you from damage to your credit or legal action.
Relief from Collection Calls
If you are receiving collection calls, understand that credit counseling agencies can help you find relief from these calls. Our Accredited Financial Counselors can help you get back on track by securing benefits with your creditors to help bring you back to a current status. Your creditors can call your new Account Advisor rather than bothering you. Many creditors stop all collection calls once a debt management plan has been approved.
Re-age your Accounts
Many creditors that participate in our debt management program are willing to re-age your account. This means that instead of showing 1 or more months late and having a much higher minimum payment, your account could be returned to a current status, and you could even owe a smaller minimum payment than you faced before your account went delinquent.
When a creditor re-ages your account, the account is reflected as current again on your credit report. Your minimum payment no longer includes amounts for late payments, late fees, and over-the-limit fees. You do not have to make a double or triple payment just to get caught up. They stop charging you those nuisance fees. Also, a debt management plan can stop collection calls once your creditor approves the terms of your plan and they begin receiving your program payments.