It makes no sense to argue about whether or not to take a loan from the bank. It all depends on the circumstances: for some this opportunity really helps, and for others it turns into real hard labor. Often, credit organizations turn to collectors - private firms offering their services for debt collection. The activities of such organizations are poorly regulated by law and therefore, various abuses of their powers often arise on their part. How to deal with collectors and defend their interests? This will be discussed in this article.
What are the rights of the non-payer of the loan?
Despite the fact that the legislation does not have a special law on organizations involved in repayment of overdue loans, the activities of any company should not go beyond the legal framework. And therefore, experts who know how to deal with collectors, strongly recommend remembering the following rules:
- If the obligation is transferred to the new creditor, the debtor may not fulfill it until he is presented with the relevant contract with the banking institution, as well as a written request to make the return of the debt.
- In the event of the expiration of a three- year limitation period, any requirements of the collectors become unlawful. Moreover, according to the law, the countdown is carried out from the moment of the last contact with the bank representatives (telephone conversation, payment of money, receipt of a letter, etc.).
- How to deal with collectors threatening to seize property? Remind them that this is possible only by court order, and only bailiffs are engaged in this.
- The amount of debt, delay penalties and the procedure for repaying the debt are determined exclusively in the agreement with the bank and if the collectors give other numbers, remind them that these conditions cannot be changed unilaterally, i.e. without your consent.
Communication with collectors
The main technique that underlies all the working methods of such organizations is psychological pressure on the debtor. Usually it takes place quite legally - they explain to a citizen why he is facing non-payment, but often collectors emphasize that the borrower is not familiar with their rights and use harsh methods, including outright threats. How to deal with collectors in this case? First of all, check the statute of limitations of the debt. If he is less than three years old, call the bank and check which agency is now collecting overdue loans. After that, ask the collectors for relevant documents that confirm their right to demand a return of your debt. Until they do, they should stop any communication with them.
Before starting the conversation, just in case lenders warn that you intend to record audio. Do not give collectors personal information: place of work, income, addresses and phone numbers of relatives. When talking, keep calm and do not try to persuade creditors or make excuses. If the amount of debt is large - it is better to entrust the interaction with a collection agency to a good lawyer. In this case, it will be possible to draw up a fairly effective strategy and count on a successful outcome.