Ask The Money Coach

Posts Tagged ‘collections’

Q: “I have two credit cards that went into collections. I went through some financial difficulties and fell off on paying them due to having to pay other bills first, like my home and car, et cetera. Now one of them, BofA, was referred to a lawyer. He is harassing me by calling every 10 minutes sometimes. Is it best to make a payment plan with the lawyer and the other collection agency, just take them to court, or file bankruptcy? I feel like I’m drowning in debt here, and I need a way out. Any advice you could offer would be greatly appreciated.”

A: Well, first off, I would suggest to you that you back that lawyer up, pronto.

If that person is truly an attorney, he or she should know that they’re violating the Fair Debt Collection Practices Act, one part of which essentially says that debt collectors are not supposed to use the telephone as an instrument of harassment. Calling every 10 minutes is clearly a violation of the FDCPA, the Fair Debt Collection Practices Act.

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