No. A debt collector may not contact you at inconvenient times or places, such as before 8am or after 9pm, unless you agree to it. And Debt collectors may not contact you at work if they’re told (verbally or in writing) that you’re not allowed to get calls there.

If your debt is in collection, the debt collectors will attempt to recover on their debts. Ignoring debt collectors does not make them go away; on the contrary, you cause them to become more aggressive with their unwelcome calls. It is desirable that you follow thias process in handling debt collectors:

• Take their calls and the debt collectors’ names
• Ask a proof that you owe that debt
• Once you have a proof that confirm your debt (if you are disputing the debt), try to negotiate something you can afford
• Avoid making promises you can keep. You will make the situation worst

A collection agency is a business that pursues payments of debts owed by individuals or businesses. Most collection agencies operate as agents of creditors and collect debts for a fee or percentage of the total amount owed.

There are many types of collection agencies. First-party agencies are oftentimes subsidiaries of the original company the debt is owed to. Third-party agencies are separate companies contracted by a company to collect debts on their behalf for a fee.

If someone used your credit and caused you to have an outstanding debt, you need to report the situation to your lenders. They will freeze the charges and launch an investigation. If your claim is proven correct, your outstanding debts are erased. They will issue another credit facility and you go on with your life.

There is a huge difference between debt elimination plan and deb consolidation. Debt consolidation stretches the amortization of your debt over a longer period and cost you more money in interest over the long term. Debt elimination simply eliminates your debt and keeps you out of debt. Debt elimination needs disciple and commitment.

To be honest with you there is no disadvantages to any well-structured debt elimination plan. The only disadvantage your creditors will not earn any interest on your debt, because you will be debt free.

You will be the sole winner with a debt elimination plan. You will be debt free in record time. You would be able to take the monthly payments that you used to service your debt load and invest it in your retirement. Committing to a well-designed debt elimination plan will deliver financial security and worry free life.

A debt elimination plan is a strategy that you undertake to pay off your debt strategically. Please consult question no 14 “Is there a strategic way to pay off existing debt in record time?” for a detailed description of a debt elimination plan.

Debt elimination is a commitment you make to yourself to eliminate your debt not to consolidate them. Debt elimination principal is the opposite of debt consolidation. It is a commitment to live debt free.

A bankrupt person opts to file for a proposal instead of bankruptcy for many reasons: