Many Virginia consumers find it difficult to make ends meet. They may turn to credit cards or loans to cover their expenses when they are unable to. Unfortunately, it can be difficult for people to find their way out of debt, especially if they are struggling with job loss or poorly paid work. Calls from debt collectors can lead to a miserable time, as people try to avoid their ongoing calls and demands for money. In 2017, over 70 million people across the country dealt with a debt collector, and one-third of all U.S. adults with credit had experienced a collection contact at some point.
People may wind up with unrepayable debt in a number of circumstances, but some of the most common include divorce, unemployment or illness. Every year, more people complain about the practices of debt collectors than any other business that interacts with consumers. There are a few things that people can keep in mind when they get a collection call. The Fair Debt Collection Practices Act prohibits calls outside of specific hours and limits the number and type of calls collectors can make. It does not ban the calls, however.
Consumers dealing with debt may also face companies attempting to collect a debt that has been sold on multiple occasions. No one can collect a debt if they cannot show that there was a legitimate original contract. In addition, people may want to steer clear of providing their bank information to a collector, even if they agree to make a payment.
Debt collection calls can be especially stressful when people know that they do not have the money to pay the bills. People struggling with overwhelming debt may consult with a bankruptcy attorney about how Chapter 7 or Chapter 13 bankruptcy could provide debt relief.