What to do if a debt collector calls? 7 On Your Side tells you your rights
NEW YORK (WABC) -- Nearly 71 million Americans have debts that have gone into collections. So, what do you do if a collector calls? Don't panic, Nina Pineda has your consumer bill of rights.
One of those rights includes the time a bill collector can ring your phone. By law, they can't call you before 9 a.m. or after 8 p.m.
But they can, will, and do stalk your social media, so if you owe, be careful what you share.
Debt collectors in your DMs?
"I've seen it happen," said Leslie Tayne, a debt relief attorney.
Tayne has fielded angry calls from collectors.
"We saw you client on social on vacation. We saw your clients showing off their new car, the new clothes they bought," Tayne said. "They're out on the town, but your clients are telling us they can't pay us, so how are they doing all these things?"
Her advice is to be private on social.
If you are contacted by collections follow these steps:
"Ask for validation of the debt. Do I really owe this money? Please send it to me in writing, don't make any promises you could be held to that," Tayne said.
"If you make a payment as low a dollar you could restart collections effort and the statute which is the time frame they have to collect on the debt which is the amount of time they have to collect after that expires, they can no longer sue you," Tayne said.
Before paying, ask for the name of the collector, the company you owe, along with the phone number and mailing address.
If the caller won't give you this information, it's a potential red flag of a scam, hang up.
Next, within five days of the call, collection agencies are required to send you a "validation letter" telling you the amount of the debt with directions to get the name of the original creditor.
After you receive this letter, you have just 30 days to dispute it by mail. If you already paid it, send proof of payment certified.
"It's not uncommon for people who say we settled a debt only to be sued or follow up, reach out to a professional," she siad.
Get debt help on a solution from someone who understands debtor/creditor law, can help you budget a resolution, and negotiate a settlement.
The big takeaway is never cave to any demands to wire Zelle, Venmo, buy gifts cards, or do whatever to send out money immediately.
If anyone is pressuring you for this, hang up it's a scam.
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