When they tell the relative their business name, then it becomes obvious what is happening. They do this as an attempt to embarrass a debtor into paying them.
Here is what most debtors do not know. This is actually a violation of a Federal Law called The Fair Debt Collection Practices Act, provided the debt collector has your information already.
I have seen this happen in many situations. Someone gets a call from a debt collector. A few days later that same person calls their relative and says they can’t reach the debtor.
They are not allowed to do that because they already have your information. If this happens to you, then document everything. Then, call that company and ask for the manager or company owner.
You have several options available to you at this point. You can use this violation to negotiate for a much lower payoff on the debt. In some instances you can convince them to forgive the debt over the violation.
If they don’t want to negotiate with you, then contact a debt collection lawyer. Just Google “Fair Debt Collections Lawyer” for help. Many of them will help you for no cost. They only get paid if they collect from the debt collection company.
Don’t kid yourself, this is real. I know for a fact that debt collection companies are scared of being sued. In fact, they have systems in place that flag debtors that have sued another company.
They may choose not to attempt to collect from that debtor, because they think there is a high likelihood of being sued themselves. In my opinion, most debt collectors break the Fair Debt Collection Practices Act all the time.
I used to think that debt collectors didn’t break the law. Because of the stories I have heard from Stop Foreclosure Institute Customers, I now believe otherwise.
If you want a list of 12 common violations and instructions on how to stop the calls, then send me an email and I’ll send you back the 12 most common violations.
That way you will know when a debt collector breaks the law. Thinking about a short sale?
I can help you short sale your property and never pay the bank another penny. Send me an e-mail at email@example.com. I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (312) 953-6725
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.
Thinking about a loan modification? Our Chicago loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.
Thanks for reading this, Phillip Buoscio.
Phillip is a Real Estate Agent at Better Living Realty – Buoscio Brokerage, Inc.. Chicago Short Sales Realtor:
Phone: (312) 953-6725. firstname.lastname@example.org.
View My homes for sale at www.BetterLivingRealty.com.
Phil Buoscio specializes in loan modifications and short sales in Chicago Illinois. Chicago Loan Modification Help. Chicago Short Sales. Chicago Short Sale Realtor. Chicago IL Short Sales. Chicago Realtor.
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Phillip Buoscio, Better Living Realty – Buoscio Brokerage, Inc., and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.
We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.
The views expressed here are Phillip’s personal views and do not reflect the views of Better Living Realty – Buoscio Brokerage, Inc..
This information on Chicago Short Sales: How To Tell If A Debt Collector Is Breaking The Law is provided as a courtesy to our viewers to help them make informed decisions.