Creditor Harassment
Not many people know this but if a creditor calls you and uses aggressive tactics with you and threatens you, it is against the law. They are liable under the Fair Debt Collection Practices Act (FDCPA). It's a federal law that protects consumers from harassment or threats made by creditors and prohibits creditors from making false statements.
The Federal Trade Commission(FTC) is a place to go to file complaints against harassing creditors.Click here to access the FTC website and learn more about debt collection and the complaint process.
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2 comments:
I graduated from college in May 2009, I had several private loans with a co-signer through Chase and some Federal Loans as well. The time for repayment began December 7, 2009. I applied for a forbearance, as I am not employed full time yet and cannot afford the $253.00 in payments per month. They began to call non stop two days later. When I informed them that I had applied for a forbearance, they said ok and to keep checking back. I have spoken to Chase about 6 or 7 times in the last month. Each time, they never provide all of the information that I need, but just enough to get their payments. Come to find out that you can't have any forbearance's unless you make payments first, whether its for unemployment or not. This is information that would have been greatly appreciated from the first phone call. Instead they have these awful customer service people who treat you like they are outside debt collectors. I complained about the first girl who called me at work and told me I "was a non paying dead beat who knew I owed the debt and just wouldn't pay it" and I'm sure she was given a commendation for her nasty efforts. Then, they began calling my co-signer. Mind you, I have spoken to them SEVERAL times in the last month. My co-signer is terribly ill, and had to call me to tell me they had called her, when they didn't even try me that day.
So, since they are calling the co-signer, who is quite ill, they have bullied me into making a payment that I cannot afford and will not be able to pay very important bills such as rent, food, electricity. Thanks Chase. Thanks for all of your help.
student credit cards the new credit card act may be not so good news for some students who are below 21 yrs old simply because they cannot acquire a student credit card without a co-signer or evidence of independent income. However let's look at the advantage of it. A credit card could actually help a student learn the true meaning of becoming responsible but let's not forget that many other people who suffered bad credit as a result of incorrect credit card use. Bear in mind that how you manage your account can affect your credit history.
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