It is no secret that Americans are trillions of dollars in debt as a nation. The average consumer debt owed by adults in 2014 was $5,178. After a bill has reached 180 days past due, it moves to a collection agency and the debt becomes what is known as delinquent debt. These bills include credit card, medical and utility balances. Debt collectors can also collect on personal and student loans.

As the cost of higher education progresses to newer heights, the number of student loans ending in default also continues to rise. The average student loan debt owed by 70% of graduates rose to $29,400 in 2012, a 25% increase from figures seen just four years prior. Debt collectors today are poised to make even greater profits from collecting on unpaid debts, and some will take every measure, whether legal or illegal, to be paid.

Most people in debt just want to pay what they owe to the original lender. However, with the cost of living outpacing income levels, more people than ever are inundated with unpaid bills. This puts millions of consumers in the uncomfortable situation of being bait for debt collectors. There is some light at the end of the tunnel, however, as all debt collectors are governed by the Fair Debt Collection Practices Act (FDCPA). This federal law provides rights not only for people in debt, but for debt collectors who follow all the rules.

Here are some things you should do when dealing with collectors, besides calling the Law Offices of Jibrael S. Hindi for support:

Keep a log of collector calls

When dealing with debt collector phone calls it is important to have a notepad handy to record the date and time that you are contacted. Also, write down the name of the employee who makes contact and what he or she says to you. The log will help you remember who calls from what company, and what debts each collector is inquiring about. Making note of the content of the conversation helps to spot any inconsistencies in your conversations.

If you cannot pay, let them know

Legally, collectors are not obliged to stop pursuing a debt simply because the debtor cannot pay it. Still, by letting the collection agency know that you are not in a position to pay, and explaining your financial circumstances, you may dissuade them from coming after you as they are likely to move on to other consumers.

Know your rights

When dealing with debt collection agencies, it is important to know what your rights are as a consumer and what they are allowed to do. You need a team of competent FDCPA lawyers on your side to build your case. Under the FDCPA, several tactics collectors may use are illegal. This act sets limits on how far they can go to try and reap your debt. For more information, contact us at 1-(844)-JIBRAEL or fill out this short form.

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