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Protecting one’s interests when interacting with debt collectors

On Behalf of | Nov 17, 2022 | Bankruptcy Law

Dealing with financial strain can be stressful enough as is, and constant calls and letters may do little to help the situation. While dealing with collection agencies may seem a part of the process, there may be many individuals in Maryland who remain uncertain of how to respond to similar interactions. While seeking advice on how best to handle debt collection attempts could prove vital to protecting one’s interests, it may also be helpful to know where to turn for guidance in preparing to address one’s situation and pursue debt relief. 

Collection agencies 

When it comes to dealing with collectors, one might benefit from taking time to evaluate the situation prior to offering payment. Requesting written documentation and researching financial records and credit reports could be integral to determining if a person actually owes on a debt. This could not only provide insight into the state of one’s situation but could also help keep a person from falling prey to scams. 

It may also be helpful to avoid succumbing to the pressure to make an immediate payment during a debt collection attempt. Experts state that even if a person makes only a small payment on a debt after the statute of limitations on collection for the debt has passed, this recent payment could reset this timer. Experts also indicate that knowing one’s legal rights and understanding what collectors can and cannot do may also be vital to protecting one’s interest during similar interactions. 

Protection from creditors 

Debt collection attempts are something that many individuals face and knowing how best to handle similar issues might not always be a simple task. Fortunately, there are attorneys that can help a person in Maryland understand his or her legal rights and provide insight on how best to approach the situation. An attorney can provide a client with insight on topics such as the protection offered by the automatic stay in bankruptcy. A lawyer can also help a client choose the best path with which to safeguard his or her financial future by pursuing relief from the trials of debt.