Dirty Creditor Tricks and Scams
The main objective of credit and collection agencies is to outsmart and outwit you. Though we know that money owed, should definitely be money paid; but these cunning individuals will do whatever thing possible to get their money and well, things more. Some would never even think twice wringing your neck to get the last penny in your trousers. Moreover, being the receiving end of lies and deception is not the place we want to be. It is blatantly stated in the constitution that it is considered violation of our rights to be tricked, lied to, and harassed by anyone.
In this article, we will tackle some of the tricky maneuvers used by creditors and bill collection agencies for you to pay your debts.
Tempting you to act on an expired debt is one of the usual tricks of bill collectors. We already became familiar with the statures of limitations that point the period until when a credit agency may use the court system to force you to pay your debt. Beyond the stature of limitations, the credit agency cannot file a lawsuit against you. Some creditors trick you to act on the expired account, thus getting the ball rolling. This is called restarting of stature. The sneaky ones try to haggle with you, saying that they will reduce the debt amount. Using false sympathy and sweet words, they will make you perform an act of some sort that will revive your bill. When this happens, the stature of limitation is ignored and the creditor can again sue you.
Bill collectors sometimes threaten to sue you. But it is important to understand that collection agencies cannot initiate legal action on their own. They must get authorization from the original creditor. The words “if you don’t pay your bills this instant you’re going to be sued” is often used so casually even if they don’t really intend to. They want to cause fear, havoc and insecurity for you to weaken your defenses and agree to their demands.
An even scarier and illegal trick used by bill collection agencies is the “you’re going to jail” ploy. It is important not to get carried away. You can’t get to jail just being in debt. The best thing to do during this situation is to get as much information and take the legal action necessary.
The IRS is going to audit you, says the bill collection agency to the debtor. Sound frightening right? IRS or Internal Revenue Services is the
So before you jump into the “better pay your bills or else” bandwagon, think through everything. Don’t get scared of the evil ploys and threats, based on the Fair Debt Collection Practices Act consumers have specific rights that creditors should acknowledged and respect. Don’t be a victim of the bill collectors’ dirty tricks and scams.
