Debt collection is still considered a taboo subject. Because of this reason, there is a lot of misinformation on the subject on the internet. If you are currently dealing with debt collectors, you must clear your doubts to avoid making a mistake.
Many people still do not know how debt collection works- how the collectors should act, what methods they can and cannot use, etc. Speaking to a Chicago debt lawyer can help you understand how the process works. Moreover, you will be able to protect yourself from the debt collectors’ dirty tactics.
Common debt collection myths busted
You can pay the original creditor instead of the debt collector.
When you take a loan, the original creditor might attempt to recover the money from you on their own, or they might hire a collection agency to do the work for them. They may also sell the debt to a collection agency and earn ownership.
Regardless of whichever case applies to your situation, if a debt collector contacts you for the payments, you cannot bypass them. You must pay your dues to the collector, not the original creditor.
Debt collectors can continually hassle people who cannot pay.
Many people think it is a debt collector’s job, and they have the right to hassle people who do not pay on time or make complete payments. However, the truth is that debt collectors cannot legally harass the debtor as it is prohibited by the debt collection guidelines outlined by FDCPA. The debt collectors must listen to the problems of the debtor and determine where the problem lies.
Avoiding collectors will make them go away.
If you think avoiding the calls, texts, and emails of the debt collector will make the problem go away, think again. It will only make the situation worse than it already is and may result in legal repercussions. It is best that you respond to their calls and convey your problems as to why you are not able to pay currently.
You will be surprised to learn that many debt collectors are willing to offer solutions and different payment plans tailored to your situation. In fact, sometimes, the debt even gets forgiven if the consumer is not able to pay at all.
Debt collectors come to your door for payment.
One more myth that the media has created over the years is that debt collectors keep knocking on your door all the time for payment. However, in reality, debt collectors rarely go to anyone’s house. It is easier for them to make use of technology and make a hundred calls in one sitting rather than visiting them in person.