Stop Collection Calls - Tips on How to Get the Upper Hand Over Your Creditors and Eliminate Debt

The world is becoming an expansive place to live. No matter how much one earns, it does not full fill the needs of the individual. In cases such as these, applying and taking a loan from the creditor is one of the suitable options available.

However what happens in such cases is that the loan is not returned on time. And you become indebted. Sooner or later you start receiving calls from the collectors who are usually hired by the creditors to return your loan.

The important thing to take into consideration is that even though you are in debt you still have rights regarding these collection calls. The whole collection procedure is governed by the federal law of Fair Debt Collection Practices Act (FDCPA). By understanding this law completely one can very clearly know about his/her rights.

The first thing you can do when you receive such calls is that ask the collector to verify that you are indebted. Asking for such verification is very important. There are situations where the collector does not have any proof in which case he cannot ask you to return the money.

Since there is no law that states that you have to communicate with the collector by phone, you can ask them to communicate with you in a written form. The advantages of communicating in the written are obvious i.e. one has a record of everything. However the surest way to ensure that you are not contacted by the collection firm is to write them a Cease and Desist letter. Once you do so, the collector firm cannot contact you further. The only option that they remain with is to send you a mail (cannot communicate on the telephone) once, highlighting one of three possibilities, they will not contact you any further for debt collection, certain actions could be taken against you and certain actions will surely be taken against you.ion

One thing to be kept in mind is that the cease and desist letter can only be sent to the collection firm and not to the creditor. It is fact that you have taken a loan and you are in debt but this does not mean that anyone can abuse you or call you day in day out to demand the money. You must know that you have rights, and you should use them accordingly to make sure no one harms you in any manner.

If you have over $10,000 in unsecured debt it may be a wise financial decision to consider a debt settlement. Due to the recession and overwhelming amount of people in debt, creditors are having no choice but to agree to debt settlement deals. To find legitimate debt reduction help in your state and get free debt advice then check out the following link.