Top 5 Things Your Credit Card Collector Doesn’t Want You To Know

October 25th, 2009 |

Believe it or not, there are some rules and regulations that credit card collectors must follow. Sometimes, for the most part, they follow them, but there are always multiple instances where they don’t. However, if you happen to know these rules and regulations and inform your credit card collector as such when they call you on Sunday for the 15th time at 8pm, you can rest assured that you won’t have to worry about anymore rule breaking when it comes to your home phone number ever again.

Without further ado, let’s cue the Top 5 Things Your Credit Card Collector Doesn’t Want You to Know!

5. You Cannot Lawfully be Called More Than Once per Day by Any Single, One Credit Card Collector

Although state laws may vary, the majority of states law prohibits collectors calling you more than once per day unless you give them your express consent. If you’ve talked to a credit card collector and identified yourself, that specific credit collection company cannot lawfully call you again for the rest of the day – again, unless you gave them permission to.

4. If you’re deep in debt then there ARE what are known as “hardship programs” available.

Since most (see: all) credit card companies make money off of your over limit fees, late fees and money from high interests, they usually never willingly tell you about the many hardship programs that are available that will help to reduce your monthly payments, waive late fees and over limit fees and perhaps most importantly, significantly reduce your interest rates for the entire year. So feel free to ask further about these programs the next time your friendly, neighborhood credit card collector calls and they’ll probably end up not calling you for quite a while.

3. It’s a no-go for cell phones!

Unlike your home number, if your credit card collector somehow gets your cell phone number, you can ask them to take it off the list and not call you on there and they must comply. Debt collectors cannot continue to call your cell phone if you ask for them not to. It’s the law!

2. It’s not all that good in the neighborhood!

Contrary to popular belief, debt collectors CAN call your neighbors, however they can’t lawfully have them relay a message to you unless said neighbor offers to do so. In some stats, collectors can call your relatives and leave a general “important business” message with them as well.

1. Debt collectors can call you at work unless the boss man disapproves (which most likely, he will)

Instead of sweating whether or not your boss knows if debt collectors have been trying to reach you at work, tell him and he can go through the necessary channels to let the credit card collectors know they cannot call you at work any longer. They will most likely listen to him much more than they would listen to you, so use that to your advantage!

Articles on this site have been acquired from a variety of sources. No content on this site should be considered financial or legal advice.

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