Fear. Anxiety. Sleeplessness. Restlessness. Paranoia. Depression. Frustration. Misplaced anger. These are all emotions that can arise thanks to one call from a creditor. And guess what? They know it. They know that you will panic. They know that you will feel threatened. They know that you will do anything you can to get those calls to stop.
They know that you probably think owing money is criminal. They know you probably think you’ll go to jail for owing money that you simply cannot pay back right now. And they prey on that fear. But, this fear is not reality.
We want to take that fear away. We can do that with one simple statement: having debt is not a criminal offense. You cannot go to jail just because you owe money to those student loans, credit cards, or the mortgage company (despite what the debt collectors might say). Unfortunately, the debt collectors know that if they use threats people will act faster.
But they’re not entirely powerless. Creditors can get you to pay your debt. Kind of.
What Creditors Can Do
So what can a creditor do to you if you owe money? They can file a lawsuit and seek to obtain a judgment. Getting sued by a creditor happens often, but even then you are not powerless. When creditors file a lawsuit, they have to prove that you owe the money stated and that you did not pay when you were supposed to. Believe it or not, this is not always easy for them to do. Many times, they cannot prove their case against you, and you could have it dismissed. If you are served a letter by a creditor, the best possible thing for you to do is to hire a qualified consumer protection attorney to reply on your behalf.
Most of the time, if they can prove their case, you can make reasonable payment arrangements with a creditor. In fact, they want you to settle. So there are some things a creditor can do to get you to pay your debt. On the flip side, you can do things too. You can demand in writing that they stop calling you. You can also demand that they not call you at work.
And, most importantly, you can tell them that you know your rights -- and that they cannot threaten you. While all of those emotions that debt can strike up aren’t fun to deal with, you can get the help you need. Call us today for a completely free and confidential consultation - we will help you sleep better by letting you know what your rights are!