Many people borrow cash from lenders with the aim of repaying in the future. At some point in time, you may find yourself unable to repay your loans on time. Receiving calls and threats from debt collectors during such times only makes matters worse. Here are ways to protect yourself from debt collector harassment.
In most cases, communication between debt collectors and borrowers is through the mail, telephone calls and text messages. Keeping all these conversations makes the job of your debt collection lawyer easier. If you can record the calls, please do so. Besides, you need to go an extra mile to register information about your collector agency.
Debt collectors are after your money. Remember that they are paid on commission; the more money they can recover from borrowers, the more cash they earn from their employers. However, some of them will lack the needed professionalism. This is why they will keep nagging you with calls and messages. Regardless of how these calls are made, it’s imperative that you don’t answer them rudely. Remember that some of them might record your words and use them against you at court. Also, avoid agreeing to promises that you can’t fulfil.
Be Wary of Unnecessary Fees
The contract you signed initially before taking the loan states what amount and interest you agreed to. Plus, lenders always charge a standard rate of interest according to statutory laws. If you find out that interest fees have been unscrupulously manipulated, find an attorney to help you file a lawsuit.
Both the lender and the borrower need each other. The lender requires that extra money that comes in the form of interest from the borrower. The borrower, on the other hand, needs a loan to supplement his or her financial needs. As such, you shouldn’t give way to scare tactics from debt collectors.