According to the Fair Debt Collection Practice Act (FDCPA), if the debt collector violates the law you are entitled to sue him in a state or federal court.

The debt collectors are in the market to intimidate you with their talk about suing you for non payment of an existent or a non existent debt. However, the collector can do the disappearing act if you start asserting your rights and act legally.

You can hire an attorney to take up your case. If the collector contacts you even after getting validation either from you or your attorney, the case is stronger. You can make him pay you.

It is a wise idea to record all the conversations with the caller without getting into an argument with him. It is important to get the first and last name of the caller and the name of the collection agency he represents. Taking notes while on the phone with the caller is a useful tactic.

If you owe:

If you actually have a debt, then assess what type of a debt it is and whether you are protected under FDCPA. Ask the debt collector to send you a notarized notice within five days of the first call. If you have a witness then asking the witness to speak for you would be a good idea.

Ask the debt collector to inform you of your rights in writing. All correspondence with the collector must be through certified mail with return receipt request. This way the letters can be tracked to his office and a confirmation of his receipt can be made.

If you do not owe:

If you are being harassed for a non existent debt, you have all the more right to sue him. The false debt collector will not want to send anything in writing. He would stick to calling repeatedly and resorting to making you commit the payment. He might threaten you by calling your office or threaten to garnish your wages. He might try all tactics to make you agree on the payment.

What you must know while handling debt collector’s call:

• Whatever the case may be you should not engage in long conversations or get into arguments with the caller
• He only wants you to react over long conversations
• You must get his first and last names and the name of his organization
• You can tell him to stop calling you
• You should not let the caller abuse you
• You should not discuss any details with the caller
• Do not commit on anything
• Always insist on written communication
• Collect all the E-mails, phone call records, faxes, letters etc., which form evidence of the unlawful practices engaged by him

As long as the debt collector is assured of your lack of knowledge of your collection rights he will move ahead with his trap. He will harass you with an existent real debt or will bring back to life a debt you have paid in full or create a debt. In such an event you must wake up and take action.

Do not feel alone and depressed because you are in debt. On the flip side, you are not alone. On the brighter side you have the makings of the rich and famous. Billionaire CEO Larry Ellison, of Oracle Corporation ran up more than $1 billion in debt. Forbes Magazines named him the 4th richest in the world. Forbes magazine puts his net worth at $18.4 billion. Borrowing among the richest Americans has never ceased in the past few years. Low interest rates have augmented their leveraging capacities and their wealth.

Debt has always been thought as a poor man’s prerogative. But the modern day economics offered it as a powerful tool to change the face of the financial world. The precedence set by the modern rich-folk indebtedness has glorified borrowing. The breed of this rich individual actually established it as the ability of taking advantage of the leverage it offers rather than an inability to pay ordinary bills. Look at the big picture. You pay the interest on the debt al right, but then you are gaining higher returns on money you borrowed for an investment.

The rich borrow for the following reasons:

• For the rich, debt is a financial tool
• The rich, essentially invest debt for primary or non primary residences
• They do not cringe at the thought of risk
• They are business men who gained by leveraging debt
• They use bigger debts to grow bigger wealth

We envy their lifestyles and their bank accounts. But if we try, we too can get closer to them in spirit. These people are risk takers that not only own their wealth, debt or no debt but also, know how to treat their wealth and debt with respect.

• They are philanthropists, like Warren Buffet who is donating to Bill Gates foundation
• They run closely held family owned businesses that are a major source of wealth
• They risk, borrow and invest to diversify their business
• They live a very unassuming lifestyle, they do not own fancy cars
• They do not burden themselves with credit card debts, installment debt or auto loans
• They own their homes and investment property
• Most of their wealth is investments
• They never stop buying more homes

Exclusive breed or not, like them, you too can take strategic risks, get into debt, invest, live simple lives, and diversify. You may or may not make it to the Forbes 400 list of the richest as a multi billionaire, but you will never be poor.

For More Information: http://www.collectionstopper.com/

When you have been harassed by a debt collector, the first thing you must do is, to determine whether the collector is the original creditor, a collection agency or a company that bought the debt. Collection agencies and attorneys who are regularly engaged in collecting debts must comply with Fair Debt Collection Practices Act and the respective states’ Debt Collection Act. The original creditor is generally not liable under the FDCPA unless they are holding themselves out as a collection agency or if the owner of a debt acquires it after the debt default.

Assess the type of debt you owned. You may be protected under FDCPA, if the debt collector is attempting to collect a consumer debt such as a utility bill, car payment, home mortgage etc.

Prior to filing a lawsuit against the debt collection agency under FDCPA, see if you have any witness to harassment against you. Ask the debt collectors to send the notarized statements with in five days of the collector’s initial communication by phone. This notice is to dispute the debt within 30 days after you receive, and also the debt collector must stop the collection of debt until the debt is validated. You must compel the debt collector to inform you the rights in writing in its initial written communication.

Also, it is very important to send the correspondence letter to a debt collector by Certified mail with return receipt requested. With certified mail, you can track the letters all the way to the collection agency and you will receive a signed and dated notice that the collector has received your letter.

The most important things to know when you are harassed by a debt collector are

• You do not have to sit on the phone and be abused by a debt collector. You can tell the debt collector to stop calling on the phone. While talking on your phone with debt collectors, make sure to ask for his/her name and name of the collection agency. Also ask the collector about the original creditor and insist on written description of how you owe the money claimed.

• If you have any doubt about a valid claim against a debt collector, tell the debt collector that you are not willing to discuss the details until you review the documents. The debt collector may use various techniques to make you feel culpable or promise to pay a debt.

• You need to store the letters, faxes, E-mails, phone calls by recording the debt collector’s calls, if your state law permits you to do. These collected documents will be used as evidence of debt collector’s unlawful practices or any harassment.

• Call recording can be the best evidence. Usually, there will be some kind of violation by debt collectors when they are on phone with you. Techniques such as using simple phone recorders, putting call on speaker phone or by using a service by www.RecordMyCalls.com are simple to use and very inexpensive, and you should record by informing them. Visit http://www.rcfp.org/taping/for more information on recording phone calls in different states.

www.collectionstopper.com follows an effective process of handling debt collection issues that will result in the most optimum and satisfactory outcome to win your case. Also you can recover money for the damages you suffered plus payment of attorneys’ fees and court costs. If you are chosen as a designated class representative, a lawsuit may be filed against a debt collector on behalf of a group of people. In this case, you can recover money for damages up to the lesser of $500,000 or one percent (1%) of the collector’s net worth

Know your rights against abusive and illegal collection practices by debt collectors. The below information will explain you the laws that apply to debt collectors about how to deal with the debt collectors when they violate the laws of FDCPA, which will be explained in detail in future posts.

A collection agency has no right to harass or abuse you over calling, or they cannot use deceptive or misleading methods to collect debt. Debt Collectors are the one who have just right to collect bills from the person, and owing debts from consumers.

Debt collectors must treat consumers with truth, fairness, dignity, and respect. When debt collector crosses the limits and abuses you for the collection, then the debt collector can be sued in federal court for damages under a law called the Fair Debt Collection Practices Act (FDCPA).The FDCPA law is passed by the congress to protect the consumers from abusive collectors. As per FDCPA law the debt collectors must follow some guidelines when dealing with consumers.

If a debt collector contacts you to pay the collection, your first move should be to ask for proof of the debt. If he fails to show the proof then you have the right to sue in a state or federal court either verbally or in writing. Under the FDCPA, you must send a written dispute letter to the debt collector within 30 days of your receipt of the first validation notice from the debt.

If disrespectful, undignified, unfair or untrue are the types of behavior by a debt collector toward a consumer over the telephone, in writing, or in person and will likely be a violation of the FDCPA.

There are some tactics to follow when dealing with the abusive debt collectors, which can protect your rights as a consumer.

• Save copies of all letters and notices from collection agencies.
• Save all of your phone messages and voice mails.
• Make a note and keep records of all of your conversations with these bill collectors.

Collect the information as much as possible such as Date of call, exact time, minutes of call, Is it a call, voicemail, letter or paper message, What was the collector’s name, Collection agency name and telephone number, What did the collector say?, Amount demanded, threats and Harassment. In order to preserve your rights under the law, it’s important for you to keep records of all of the contacts.

If you have been the victim of harassing, threatening or intimidating calls or letters from a debt collector, CollectionStopper.com offers Free Evaluation for your case.