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Stop Creditor Calls At Work With This Sample Letter

admin — Thu, 25 Jun 2009 14:27:53 +0000

What do you do when you are behind on your bills and your creditors have turned your account over to a collection agency? The constant calls from these agencies can be very stressful, and their tactics can be unmerciful. Normal practice can include threats and abuse. Collection agencies are not interested in your problems. They are only interested in collecting from you because that is how they get paid. Unless you are ready to pay them, talking to them will probably be useless. If they have your telephone number, you can count on getting a lot of calls from them.

You Have Legal Rights As A Debtor

The Fair Debt Collection Practices Act provides you with rights. Under this Act, a creditor does have the right to call you but they have to remain within the following guidelines:

1. A creditor cannot use abusive, threatening or degrading language with you. 2. A creditor can only call between 8 am in the morning and 9 pm in the evening. However, this does not mean they can call you every 5 minutes. According to debt collection laws, doing so would probably be considered creditor harassment. It is possible you would be able to report them for a debt collection fine. Debt collectors can be fined $1000 for every occurrence. 3. Keep a record of who is calling and what time each call occurs. If the calls are coming on your cell phone, keep your bill with the list of calls on it. This record can be useful in proving that your rights were violated under the debt collection law. 4. Creditors are restricted from telling you that they are going to sue you if they have no intention to do so. It may be difficult to prove but a creditor cannot lie to you in order to collect a debt from you.

Sample Letter To Stop Creditor Harassment

Copy and Paste the following letter into a word processor. Complete your personal information, review, print, sign, copy and mail. Send the letter and other correspondence with a collection company certified mail so that you get a signature showing their receipt of your letter. Never send originals.
• Date: ______________________

(Your Name) Your Address)

Client Name(s) on account: _________________

Account #: _______________________________

Date debt incurred: ________________________

Original loan amount: ______________________

Amount past due: _________________________

Re: Collection Company: ___________________

To Whom It May Concern:

I have been unable to pay the full amount of the debt noted above for the following circumstance(s):
_____________________________________________________________________________
_____________________________________________________________________________

By law I have the right to be treated by a collection company with honor and respect. The collection company that you hired (as noted above), however, has resorted to the following practices, which violate the federal Fair Debt Collection Practices Act or FDCPA:
_____________________________________________________________________________
_____________________________________________________________________________

I would be willing to forgo the legal remedies that I have available, including a lawsuit in small claims court seeking punitive damages against you and the company, in exchange for your written promise to permanently cease and desist all efforts to try and collect this debt and remove all negative entries regarding this debt from my credit profile. I expect to hear from you promptly on the matter.

Regards,

________________________________________
Signature

Name: ____________________
Address: ____________________
____________________
Home #: ____________________

cc: Federal Trade Commission
State Collection Agency Licensing Board
Collection Company: __________________________
Take Charge Of Your Debt Be an informed consumer. Do your research and fight back. If you feel that your rights as a consumer have been compromised, contact the FTC or your state’s Attorney General.

Debt Free Dave has been in the mortgage and consumer finance business for over 10 years. He has a Finance and Real Estate degree from the University of Arizona. This Article is designed to be of general interest and should not be considered legal advice. The specific information discussed may not apply to you. Before acting on any matter contained herein, you should consult with your personal legal adviser.

Source:debtfreepartners.com

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How to Correct Errors On A Credit Card Bill With This Sample Letter

admin — Thu, 25 Jun 2009 14:20:17 +0000

Credit card billing statement errors can have very negative effects on your credit score and your ability to get credit. Errors on your billing statement can also be a warning sign of potentially serious identity theft issues. Billing errors should be addressed immediately upon discovery.
Send a Written Notice of the Dispute
Upon finding an error on your credit card bill, you should immediately call the credit card company and notify them. This will help keep you from paying fees, penalties, interest and other charges that may have been erroneously billed to you. Next, you should immediately send a letter to the credit card company. Writing a note on the bill and sending it back to them is useless since most credit card processing systems are automated and your note will not be seen.
Time Limit for Notifying Credit Card Company You must notify your credit card company of any billing errors within 60 days of receiving the original bill. Send your account number, your name, and the reason why you believe there has been an error. Enclose any receipts and other documentation that support your claim. Be sure to send only copies of the documentation and keep your originals in a safe place. Credit Card Company Has Time Limit For Correcting Errors The credit card company has 30 days to acknowledge receipt of your letter, and it has 60 days to either correct the error or explain why it believes the bill to be correct. If you have a bank credit card and you have auto draft payments, the bank cannot deduct the disputed amount or any related finance charges from your account. If you must change the amount of the payment, you must give notice at least 3 business days prior to the auto draft date. Look At The Back Of Your Statement For Dispute Information The back of your statement should tell you where to send disputes. If you cannot find it, call the customer service number for the address. It is useful to send the dispute via certified mail so that you get a time stamped signature indicating the company’s receipt of the letter and the time it was recieved. You Do Not Have To Pay the Disputed Amount on the Credit Card Bill You may withhold the disputed amount from your payments. You may also withhold the associated finance charges. You are required to pay the undisputed portion of your bill, however. Not paying your bill while the dispute is under investigation will severely damage your credit. Different Types of Billing Errors
You may think that a billing error is just a mistake in the amount that you owe, but there are many types of errors, including:
1. Charges that were reversed when merchandise or services were returned. 2. Someone who used your credit card without your authorization, also known as identity theft. 3. Charges for services or merchandise that were never received. 4. A purchase that was cancelled by you and not credited back by the company or business.
Sample Credit Card Dispute Letter
Copy and paste the following letter into a word processing document and complete your personal information as necessary. Then print the page, check it for errors, sign it, make a copy of it and send it. Don’t forget to send it certified mail, and send only copies of documentation to support your dispute.
• Date: ______________

(Your Name)
(Your Home Address)

Attn: Customer Service

Name(s) on the account: ____________________

Account #: _______________________

To Whom It May Concern:

I am writing to point out the billing error that appears on my statement dated ____________.

Merchant’s name: ______________________

Amount in error: ______________________

I am not paying this amount.

My complaint is as follows:

_________________________________________________________________________
_________________________________________________________________________

I understand that the law requires you to acknowledge receipt of this document within 30 days unless you have corrected this billing error before then. Furthermore, I am aware that within two billing cycles (but in no event more than 90 days), you must correct the error or explain why you believe the amount to be valid.

Regards,

________________________________________
Signature

Name(s): ____________________
Address: ____________________
____________________
Home phone#: ____________________
Email address: ____________________
Take Charge of Your Debt

Be an informed consumer. Do your research and fight back. If you feel that your rights as a consumer have been compromised, contact the FTC or your state’s Attorney General.
Debt Free Dave has been in the mortgage and consumer finance business for over 10 years. He has a Finance and Real Estate degree from the University of Arizona. This Article is designed to be of general interest and should not be considered for legal advice. The specific information discussed may not necessarily apply to you. Before acting on any matter contained herein, you should consult with your personal legal adviser or attorney.

Source:debtfreepartners.com

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