The activity of debt collection has become very profitable and the collection of "old" is increasing. Should be aware of their rights when it comes to receiving calls from collection to the old debt, especially debt has more than seven years and no longer appears on your credit history.
1. Be aware of the limitation in the State of residence in the State and the debt was incurred if they are different. If expired,collection agency have limited legal options.
2. We recommend that you ignore the call. If the statute of limitations has expired to resort to very little and has much to lose from the negotiation of payment. The refund can be relisted make in your credit report.
3. Write a letter and send it by certified mail. Failure to accept the debt. After receiving the letter of the law banning contact with them again.
4. Know what yourrights. A copy of the Fair Debt Collection Practices Act or a copy of "Problems of money" from Leonard to get to know what your legal rights.
5. Look at your credit report. If you see something on your credit report is incorrect, you can dispute with the credit bureau. If the credit reporting agency or creditor can not prove that the information is correct, it will be deleted.
6. If the prescription is still current, isgroping may want to develop an agreement with the agency. Negotiate with them and see what you can get a job.
Collections has become a very lucrative business. Knowledge is power. Be better able to manage your debt if you know what their rights are and where you are.
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