Seeking A Debt Collection Lawyer

Choosing the way out if you cannot pay your debts can be a trying situation.

Yes, there are answers provided you do your homework well.

To start with, however, you must assess your financial strong points as well as your monetary Achilles’ heel.

Here are a few things you must do.

• Make a list of the types of debts you have.
• Assess if your financial problems are long term or for short duration.
• Get to know your state’s wage garnishment limits or the limits from your monetary compensation.

The types of debts you owe will, in a large part, determine what your creditors can do to you.

Secured Debt

Your house or car loans are secured debts. These provide the creditor special privileges to collect from assets you have pledged as collateral for the loan.

If you are unable to repay your secured debt, the creditor has the right to collect from the pledged property, if necessary, through foreclosure.

Unsecured debt

Student loans, utility bills, telephone bills, and credit cards charges constitute unsecured debt. These types of debts are not linked to an asset. If you lag behind on payments for unsecured debts, the lenders have no claim on your property.

A creditor does have his/her rights, but keep in mind that any debt collection agency cannot do certain things such as:

• Calling you at odd hours
• Use abusive or annoying language
• Misrepresent the owed amount
• Feign themselves as a law enforcement officer or an attorney
• Threaten false legal action

To know more, you can refer to Fair Debt Collection Practices Act, which explicitly states that it is illegal for creditors to harass debtors.

A first step is to write to your creditors to stop contacting you. Under the Fair Debt Collection Practices Act stipulations, they are bound to follow your request.

You can even file a complaint with the Federal Trade Commission.

If you feel you are hounded by debt collection agencies, and some of their actions are illegal, you may want to speak with a law firm like Rowena N Nelson.

With office in Largo, this leading Maryland law firm has helped clients on varied legal issues.

According to a Rowena N Nelson review, “The attorneys of this firm make extra efforts to make certain their clients’ rights are represented in the best possible manner”.

“I was able to raise a defense that some of my debts were legally invalid for certain reasons”, says a store owner. “I had read several Rowena N Nelson reviews, and this helped me get the best representation”.