There are many illusions you will find regarding to debt collectors that what they can do and what they cannot do. Creditors use different type of scared strategies for debt recovery mission. Therefore, it will be very useful for the people to aware about their rights to feel comfortable.
Knowing about what debt collectors can do and cannot do will give you the understanding of debt recovery the debt recovery process and can help you to remove your panic and uncomfortability.
What can debt collectors can do:
1. They can follow you by email, letters and call.
2. They can send debt collectors to your house for the debt recovery. This is very important to notice that these debt collectors have no power than a caller. This step usually took, when the debtor will live near the area of debt collectors.
3. They can add the interest continuously in your debt with the genuine agreement.
4. They can also deduct the payment which you owed from the connected accounts. For example, if you have a credit card and a bank account, then they will look at your credit card debt and can take payment from your account. It is called right offset.
5. They can send you a default letter, usually sent after three to six overdue payments. This is the necessary thing which creditors should do when you default on your agreement of debt repayment.
6. Sometime, debt collection companies use statuary demand to file bankruptcy. However, most of companies don’t use this method.
What debt collectors cannot do:
1. They have no rights to harass you for the debt recovery process.
2. You have a responsibility to tell your debt collector of your condition, but it does not mean that a debt collector can call you every hour. You can only send you email and you should open your email.
3. They cannot talk to your family, friends and employer for the debt collection.
4. They cannot also harass you on social media.
5. They can send a debt collection agent with the bailiff who has no more power than phone call agent unless they are sent by the court.
We are providing the professional debt recovery services in Queensland and we have a great reputation in the debt collection industry. We only use good and legal tactics to get back your money. We have very well trained staff, which has the capability to get back your payment which you owed.