Collection agencies are a fact of life. The constant phone calls and certified letters are stressful reminders you owe money to someone, somewhere. It is not a very easy situation to be in, and can be fraught with tension and anxiety. Many collection agencies are filled with honest and professional people who sincerely want to help in providing assistance to help you pay a debt. They will work out a payment plan, treating your situation and you with respect and concern.

The collection agencies we hear most about, however, are those that badger you with phone calls, sometimes three or four per day. They demand when payment is going to be made, with no repayment plan or assistance offered. They send threatening certified letters, threatening judgments. Some scream over the phone at the more psychologically sensitive, causing harm and anxiety. Some calls are computer generated with computer voiced instructions to return the call.

There is legislation under Fair Credit Reporting Act (FCRA) and Fair Debt Collection Practices Act (FDCPA) enacted to protect you from certain collection agency practices. As a consumer, you have certain rights, even though they are doing their job and have the right to collection a debt. There are rules and regulations they must follow, such as not contacting your neighbors or your employer about collecting a debt.

The laws do not protect you from the original creditor – if you owe the debt, you have to pay it. These legistlative acts promote working in an atmosphere of civility. Filing personal bankruptcy may protect you, but you must be aware of the statute of limitations if you do not. Protect yourself by beginning the process of “Debt Validation.”

Debt Validation will confirm you are responsible for the payment of the debt, and are the original owner. Some companies charge off the debt, or sell it to collection agencies, which is how they make money off your misery. In some cases, the original debt has been inflated by adding on fees, penalties and interest. If results in a massive markup and profit for the collection agency. This will occur even if the debt doesn’t belong to you and is an error.

You have the right to contract the collection agency and ask for the following information: How much the debt is, what calculations they used to figure the amount (which will show the added on fees, penalties, etc) and proof the debt is yours by providing a copy of the contract you would have signed. You can ask to see their license and under what authority they have to collect in your state. Ask all these questions in a certified letter, return reciept requested.

You have the right to question whether this debt is yours, or was attributed to you in error.

Write to the credit reporting agencies as well to inform them of their error. They are violating your rights as a consumer by listing erroneous or incorrect information. Send your letter certified mail with return receipt requested and ask for certain key information in response to your questions. Ask they delete incorrect or erroneous information listed, and not allow the collection agency to reapply the debt to your report.

Protect your financial health by monitoring your credit report constantly. Some collections agencies will attempt to reapply the debt to your credit report, even after they have been removed by a Judge in a court of law.

I Freed Myself from the Lvnv Funding Collection Agency. See How I Did it at www.lvnvfundingcollection.com