Is your Creditor Making Paying Back your Loan Difficult?
Typically the biggest problem with paying a debt is having sufficient funds available. However, in some situations the creditor can make the repayment process difficult. Below are a few examples of how your creditor can make things difficult on you:
Refusing to Accept Payments
Nothing under the Fair Debt Collections Practices Act requires a creditor to accept payment. Obviously most debt collectors are more than happy to take your payment in full (it is how they get paid their commission), but you may run into problems if you are attempting to settle for less than what is owed. Unfortunately, as long as the collector is only seeking to recover what is legitimately owed, there is no legal obligation that they negotiate or settle with you, regardless of how fair you are being.
You can’t Locate the Creditor
If you are attempting to locate a creditor or collector, you should start by pulling your credit report from the three largest credit reporting bureaus (Experian, Transunion and Equifax). Your report will list all collection accounts filed against you, as well as telephone numbers of creditors if available. Even if the number is not listed, you can search the list company’s name online to find their contact information. You may also try to call your original creditor and ask who they sold your account to for collection. If all else fails, you may try to dispute the collection information with the credit reporting bureaus to motivate the collector to reveal themselves.
Having collection notations on your credit report can seriously damage your credit score, so it is important to take action to get them resolved and removed. Contact the Orange, Riverside and Alameda law firm of Fitzgerald Campbell, California’s premier debtor protection law firm. We can work with you to create a debtor protection plan and can work to halt harassment and reduce and eliminate debt. Contact us for a consultation by calling 855-709-5788 or emailing us at Info@debtorprotectors.com.