You are probably one of the many people that are looking to find ways to get out of debt. You may owe money to someone, took out a loanor the most common – dealing with credit card debts; you must know that you are not alone and there are ways to tackle your debts.
So what are your rights when you are dealing with debts?
In order to prevent any recurring debt as well as debts that are taking you by surprise, try to setup a better way of managing your finances and make a budget for yourself and your family.
Get the help of a professional consultant
When it comes to money matters, you can always get a free advice from professional agencies that deal with debt. Seeking assistance from an independent agency is part of your rights to help you when you are having trouble paying off your debt or with managing your finances.
You can also seek their help in case you are threatened with legal action and discuss your options as soon as possible.
You can negotiate for a new repayment plan
Contacting your creditors for assistance with your debts is a good place to start. Advising your creditor of your current financial situation is a good way to let them know that you are committed to paying your debts however you are just struggling at the moment.
When you do setup a negotiation for a repayment plan, be realistic about the numbers where you can pay and try to be upfront about your financial situation.
Verify any debts that you are not sure of
Double-check that you actually owe the debts especially if they are from a long time ago. You do have a right to seek independent advice from a professional consultant before making a confirmation or payment of these out-standing debts. You can do so by applying to get your credit file for free.
Out of conduct or misleading
Once you find out that a debt collector or creditor misleads you or threatens you in any way that leans towards harassment, you have the right to make a formal complaint. Any excessive or unreasonable measures from a debt collector or creditors are prohibited by law.
Here are some unacceptable behaviours that you need to watch out from debt collectors or creditors:
Such actions are considered harassment and in no way professional. If you are unsure if the actions of the debt collector are considered unreasonable, contact a professional agency, such as Debt Cutter who will be able to assist you with your rights.
You can dispute a debt that you do not owe or disagree with the amount being claimed. You have the right to question, get copies of the exact account information and contracts stating the amount the creditor claims you owed.
The case of mistaken identity
For cases with mistaken identity, the only way to resolve this problem is to provide proper identification like driver’s licence, passport or any government IDs. No other person – especially not the debt collectors, but yourself can decide whether you want to show your ID or not to clear any mistaken identities.
So if you are struggling to manage your debts it is strongly recommended that you seek good professional help to assist you with practicing your rights. Debt Cutter assists people who are struggling to maintain their debts. Debt Cutter has been assisting clients for over 12 years and can provide you with all the necessary information about your rights to get out of debt.
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