Dealing with Difficult Debtors

As a creditor, there may be times that you are going to deal with difficult and risky debtors. They may fail to make their payments on time, putting you in a bind. Handle these situations in a professional manner with these helpful tips.

Pros and Cons of Filing Bankruptcy

Filing bankruptcy is a double-edged sword. While it can be beneficial to you, it can also cause a lot of problems. This is why it’s important that you understand bankruptcy and to study all your options before deciding whether to file it or not.

When Can't Debts Be Collected?

If you have just received a phone call from a debt collector, it doesn't mean that you owe that collector any money. In some cases, the call has been made in error because you have a similar name to another debtor or because you have a phone number that used to belong to a debtor.

Shield Yourself from Illegal Collection Activities

When an individual owes a valid debt, the lender or holder of the debt may contact that person in an effort to collect payment. However, there are limits as to what that collector may do. You cannot be contacted before 8 a.m. or after 9 p.m. unless you give whoever is contacting you permission to do so. Debt collectors are also barred from threatening to take legal action for nonpayment if they do not intend to do so.