If you stop making payments on an unsecured debt balance, there is a chance that it will be sold to a debt collector. An Indiana debt collector has the right to contact you by phone or mail in an effort to obtain the money it is owed. However, there are strategies that can be employed to put a stop to annoying debt collection phone calls or letters.
You can put a stop to collection calls by asking nicely
The Fair Debt Collection Practices Act (FDCPA) allows you to prohibit debt collectors from making calls to a personal number. Typically, such a request must be made in writing, and it’s important to note that asking a debt collection firm to stop calling you increases the risk that it will file a lawsuit against you.
The FDCPA may put other limitations in place
In general, you cannot be contacted about a past due amount before 8 a.m. or after 9 p.m. It’s also worth pointing out that anyone who is seeking to collect money from you cannot contact you at work without your permission.
Filing for bankruptcy provides you with an automatic stay
An automatic stay against creditor collection activities will generally go into effect the moment that you file a bankruptcy petition. The stay prohibits creditors from making phone calls, sending letters or taking other steps to obtain a past due balance. If a debt collection firm has any questions about your account, that firm must typically direct those queries to your attorney.
If you are getting calls from creditors of any kind, it may be in your best interest to file for bankruptcy. An attorney may be able to help you learn more about the benefits of doing so such as obtaining an automatic stay. In some cases, it may be possible to receive protection from creditors without losing assets such as a home, car or tools used to run a business.