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Tips on dealing with credit card debt collectors

Struggling to overcome high levels of debt can feel overwhelming for Tennessee residents. That is especially true when debt collectors begin calling. While there are regulations in place to limit the tactics that debt collectors may use, many companies operate outside of those established boundaries. Understanding how to handle interactions with credit card debt collectors can make it far easier to work through times of financial turmoil.

One thing to remember is that debt collectors have no right to collect personal information on individuals they contact. Regardless of whether or not they request such information, it is not necessary to provide one's date of birth, Social Security number or other private information. Debt collectors are already supplied with a great deal of information on the accounts they are attempting to collect, and require no additional input from individuals listed on those accounts.

It is also important to know that there is a statute of limitations regarding debt collection efforts. These laws vary from state to state, and it is important to understand what the limitations are in your state of residence. Once the statute of limitations has expired, old debts are often sold to debt collection firms who will continue to try to collect on the old account. Interacting with a debt collector in regard to an old debt can actually serve to turn back the clock and reset the statute of limitations.

Finally, Tennessee residents should understand that if their interactions with the debt collector falls outside of the established boundaries, they have the right to seek recourse. In addition to contacting the Attorneys General office, it also possible to file a complaint with the Better Business Bureau and the Consumer Financial Protection Bureau. Those agencies are tasked with ensuring that credit card debt collectors are following the letter of the law.

Source: wrex.com, "6 things debt collectors may not want you to know", Andrew Housser, Aug. 21, 2017

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