Debt collectors are usually aggressive when attempting to collect debts. They often use tactics that bend–and sometimes break–the law. Therefore, when negotiating with a debt collector, you must be alert. Otherwise, a single mistake can risk you and can cost you money. If you want to contact a debt collection attorney, visit the website. Mentioned below are some common mistakes you should avoid while dealing with a debt collector.
Mistakes to avoid when dealing with a debt collector
1 . Not aware of the statute of limitations
Generally, the statute of limitations for consumer debt is of four years. It means the debt collector has only four years to sue you if you have an unpaid debt. If the debt collectors fail to do so, they have the rough to file a lawsuit against you and collect the debt. Some debt collectors may threaten legal action even after the period is expired, which may result in a customer who does not know the statute of limitations agreeing to pay the debt even though they do not really owe it. Remember that passing the statute of limitations does not imply that you can ignore the lawsuit. If you wish to argue that the debt is beyond the statute of limitations, you should respond to the case and mention that the statute of limitations is one of your defences.
2 . Providing personal information
Do not ever provide your personal information about your assets and finances. Debt collectors are not allowed to collect such information and may use them against you if they pursue legal action.
3 . Admitting that you have debt
Even if you owe the debt, you should never admit this in front of a debt collector. This is because you may have defences available that could forgive you for being liable for the debt, mainly when the original creditor sold your account. When you admit you owe a debt, the debt collector may use it against you in the lawsuit.
4 . Not hiring an attorney.
One of the biggest mistakes you can make is not hiring an attorney when dealing with a debt collector. Challenging a large debt company alone is often a losing battle. However, with the help of an attorney, your odds of a successful outcome can enhance drastically.
If you have been contacted by a debt collector or facing a debt collection lawsuit, contact an experienced debt collection attorney.