When you think about debt collectors, you usually think of someone that isn’t very nice. They call, they harass and they threaten. In reality though, what threats to take seriously and what threats to ignore is something most people don’t understand.
The reality is, most of them are empty threats.
- You’re not going to jail. Debtors prisons are a relic of the distant past.
- They’re not going to send people to pick you up. That’s kidnapping and that’s illegal.
- Chances are, they’re not going to “ruin” your credit.
- So what if they, “refer it to an attorney to look at.”
The three threats with teeth
There are only three things you really need to be concerned about.
- They have a court judgement against you and they know where you work. They can then file a garnishment and take your pay.
- There is a lien against your house by your Homeowners Association or your mortgage lender and they are threatening to foreclose on your house. You need to be concerned about that and you need to take action to stop it.
- You’re behind on your car and they’re threatening to repossess it.
That’s what you need to be concerned with. The rest, well, is just crap. Let’s be honest, the lender would really just rather make a deal. It’s cheaper, cleaner and keeps everyone happy.
The debt collector who is legitimate will reach out to you in writing or dials you from a number that is from a real debt company. That said, just because they are from a “real company” doesn’t mean they won’t lie to you, call you at work, tell your loved ones about your debt or do other illegal things.
If you find yourself drowning in debt and being harassed by legitimate debt collectors, reach out to us at Harmon and Gorove. We can help you get your finances in order and bring some peace to your life. Contact us today to learn how bankruptcy can help you achieve financial freedom and peace.