I got these tips from Practicalmoneyskills.com a great source for financial tools. Ignoring creditors might not always be the best idea. If you talk to creditors they might be willing to change your interest rate and save you money.Here are some tips for talking with creditors:
- Be cooperative, not angry.
- Be prepared with a list of how much you owe.
- Have all your financial records together and with you.
- Listen. The bill collector might have ideas that will help you.
- If you are having trouble with a particular bill collector, ask if you can speak with a different person.
Creditors do not have the right to harass you. The Fair Debt Collection Practices Act is a federal law that protects you. It forbids collectors from:
- The use of threat of violence or other criminal means to harm a person, their reputation or property
- The use of obscene or abusive language
- Repeated calls with intent to annoy or harass
- False affiliation with the government, including the use of a badge or uniform
- Threat of arrest
- Communication at unusual or inconvenient places and times
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