Recently on our legal forum a user asked, “I have gotten myself into a financial bind. It’s partly from overspending but mostly from a job loss and divorce. I am hounded day and night by rude and overly aggressive debt collectors. I know some of them are just doing their job, but I don’t have any money or I would have already paid them. What can I do to stop the phone calls?”
Recently on our legal forum a user asked, “I have old debts that I have not paid. Recently debt collectors have started calling me again. I thought I was well past the statute of limitations and I am wondering why I am now receiving calls after all of these years. Can you tell me what I should do to stop the calls and deal with this situation?
A promissory note is the legal agreement between a debtor and creditor which outlines, in writing, the amount loaned and the amount of time that the debtor or payee will have to repay the loan.
Recently on our bankruptcy forum a debtor asked, “We signed a promissory note with a private lender and the note had a specific maturity date. We failed to meet the terms of the loan agreement, but we never heard from the lender. We expected them to send a demand letter but it has been eight years and we have not heard from the lender. Are they legally able to come back to us and collect the debt after all of this time?”
Each year thousands of debtors complain to the Federal Trade Commission (FTC) about violations under the Fair Debt Collection Practices Act (FDCPA). The good news is debtors are wising up to the legal rights they have under the law and are willing to fight against abusive, unfair, or deceptive practices debt collectors have used for years.
Recently on our bankruptcy forum a debtor asked, “I have heard something about a law that protects me against harassing debt collector actions. What is this bill and what can I do to stop debt collectors?”