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WHAT IS DEBT COLLECTION?Debt Collection
If you have ever fallen behind on a credit card, personal loan or medical bill you have probably run across someone in the debt collection industry. Individuals in the debt collection industry are not always the nicest people to deal with, as their sole goal is to convince the debtor to pay. Debt collectors come in all shapes and sizes, but the most common types of debt collectors are collection agencies and collection law firms.
A collection agency is a company that has been hired by the original creditor to help with debt collection efforts. Collection agencies will often use fear and intimidation to try to convince consumers to pay back their debts. Most employees of collection agencies receive most of their salary based upon a percentage of how much money they are able to convince people to pay. Therefore, they have every incentive to get you to pay as much as possible.
Collection law firms come in two different forms in the debt collection industry. There are instate attorneys and out of state attorneys. An instate attorney means that they are licensed to practice law in your state, and therefore are capable of commencing a lawsuit in their debt collection efforts. An out of state attorney cannot file a lawsuit against you, and is nothing more then a glorified collection agency.
Both collection agencies and collection law firms fall under the Fair Debt Collection Practices Act. This debt collection law was established to protect consumers from harassment, abuse, and trickery that is common in the debt collection industry. Additionally, the Fair Debt Collection Practices Act dictates how collection agencies and collection attorneys can communicate at home and at work with consumers.
If you are frustrated with the debt collection industry and you would like help, please fill out our Free, No Obligation form on the right, and one of our debt consultants will contact you within one business day. You can also call us toll-free at (866) 559-3328 for immediate help. |
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Individual results may vary and are based on ability to save funds and successful completion of all program terms. Our debt resolution program does not assume or pay any consumer debts, and does not provide tax or legal advice. Program is available in all 50 of the continental United States. Please read and understand all our contract terms prior to enrollment.
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Debt Settlement - Straight Talk