Legal Question in Credit and Debt Law in Pennsylvania
debt collector's rights?
In April of 2005, I stopped paying on a debt (line of credit loan). I was over a month behind and they would not work with me to reduce payments or help me to make up the over due amount. They told me if I did not pay the past due balance in full it would continually show up late on my credit report. Since they were destroying my credit anyhow, times were tight, and they the same company had help the mortgage of the home I had just sold, (which I was ripped off when the pay off balance came through) I said fine then… and have not paid or responded to any collection efforts since. The reality is the loan was at that time for 8,500 and I didn’t and still do not have that kind of money. I recently received a letter from a new collection agency that has the debt, the amount now is over $13,000! Today I received a phone call from them stating that I have until 5:00pm to call them to settle this debt “voluntarily”. Is this legal? And what action can be brought against me to collect this debt?
1 Answer from Attorneys
Re: debt collector's rights?
You asked abut the debt collector's rights.
They don't have any, you have them. Look at the Fair Debt Collection Practices Act and then start keeping a log of all contact by collection agencies. You should instruct them as to how you want to be contacted and when. I also suggest telling them that you are not allowed to take calls of this nature on this line as it is a work number.
Then get in touch with an attorney. There will likely be a claim of violation of the FDCPA. Best part is that the collection company probably will have to pay your attorney fees. And also you may want to consider bankruptcy. A person's credit rating usually improves within six months after a bankruptcy.
Regards,
Roger
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