Debt collectors keep calling
Los Angeles, CA
Debt collectors keep calling because they are paid a commission on money they can collect. Even if you tell them you don’t have the money, they are trained to aggressively dig. Maybe a friend or family member can loan you the money? Maybe you can borrow from your 401K? Maybe you can pay them from a credit card you are not maxed out on? They will be relentless and for good reason. Debt collection is very big business. In 2010 debt collectors obtained over $8 billion dollars from consumers in default on debts. This is big business for the original creditors and also big commissions for the debt collectors. When on the phone with a debt collectors you have to realize they are not concerned with your problems. They are only concerned with you standing in the way of their paycheck because the money you agree to pay is partly their money driving their profits.
For this reason, many debt collectors violate the law. Many will say or do anything to scare a consumer into payment. Please refer to my earlier blog on California debt collection law to learn more about your rights in California. One important law to keep in mind is that if you hire a lawyer to represent you against your creditors and debt collectors, they must only communicate with that lawyer. Any communication after they are on notice you have a lawyer is now illegal. Are you being harassed by Midland Funding, Portfolio Recovery Associates, United Recovery, CACH, Equable Ascent, or another debt collector? It’s time to consult with a qualified debt negotiation attorney.
Action Plan: If debt collectors keep calling over and over it’s time to stop the calls. Start by consulting with an expert debt negotiation attorney. A qualified debt settlement attorney is a licensed expert in the field of consumer finance and should be the only source for a legal opinion on debt. During an initial free consultation the attorney can discuss available options to stop the harassing calls and to get out of debt and on the way to financial freedom.
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Kevin Fallon McCarthy
Kevin Fallon McCarthy is the McCarthy Law PLC’s managing attorney and an experienced Phoenix debt attorney. Mr. McCarthy has also worked as general counsel for a large corporation. He has corporate counsel experience in human resource matters, general corporate governance, and union class action litigation.