KNOW YOU RIGHTS! When you deal with something that you don’t fully understand, you can be taken for a ride. For instance, if you don’t understand your rights as a consumer when it comes to your credit cards, you can be bluffed by the collector.
Statute of Limitations on Unpaid Debts
An example that came up recently with one of our clients – a debt they had not paid on for 8 years came back into existence with a collector calling them. The client didn’t know that there is a statute of limitations in their state on unpaid debts. For credit card debts, if the company can not collect in 6 years, the debt is gone and can not be collected any more.
The client didn’t know there was a statute of limitations on their credit card debt, so grew worried that something bad would happen. We simply told the creditor that the statute of limitations had gone to its limits and that the client no longer owed the debt.
This was, for the client, a big relief. But, it was his lack of knowledge that lead him to worry and think that he was going to have to pay it.
Creditors Cannot Call You If You Write Them And Tell Them To Stop
Did you know that you can tell a creditor not to call you at your home or work? Yep, you send them a letter (registered mail, always) and tell them that you don’t want them to call you at work or home and they have to obey that request. After that, they can only send you letters.
You can find out about your rights as a consumer by searching on the internet under consumer rights concerning credit cards, or debt.
We make sure our clients know their rights. It saves them the grief and worry with their creditors as a few of them try to mislead the client.
Know your rights! It’s a very simple and good thing to know.