Can debt collectors tell other people, like family, friends, or my employer, about my debt? No. Under federal law, a debt collector may contact other people but generally only to find out how to contact you.
Contact the three credit reporting agencies and request your loved one's credit report, which will list credit cards they had, loans they took out, and their lines of credit.
There is no law stating that a debt collector cannot show up on your property. However, there are standards that a collector must follow if they are on your property. For example, they can only be there between the hours of 8 a.m. and 9 p.m. and they cannot enter your home without your consent.
The Fair Credit Reporting Act (FCRA) is a federal statute that defines and limits who can receive credit-related information. The act lists legal reasons why someone's credit can be checked; therefore, it is illegal for an individual or organization to check someone's credit report for any other purpose.
Even those who want access to your report can only ask for it if they have a legally permissible reason to do so. Both the credit reporting bureau and the person seeking access without a “permissible purpose” can be held liable if they breach the FCRA.
The short answer is yes. With the proper authority, anyone can obtain a copy of another person's credit report. The key here, though, is having what the Fair Credit Reporting Act refers to as “permissible purpose” to access the report.
Specifically, the rule states that a debt collector cannot: Make more than seven calls within a seven-day period to a consumer regarding a specific debt. Call a consumer within seven days after having a telephone conversation about that debt.
Debt collectors are not permitted to try to publicly shame you into paying money that you may or may not owe. In fact, they're not even allowed to contact you by postcard. They cannot publish the names of people who owe money. They can't even discuss the matter with anyone other than you, your spouse, or your attorney.
If you are struggling with debt and debt collectors, Farmer & Morris Law, PLLC can help. As soon as you use the 11-word phrase “please cease and desist all calls and contact with me immediately” to stop the harassment, call us for a free consultation about what you can do to resolve your debt problems for good.
If you access your spouse's credit report without their permission, it could be considered a form of identity theft or fraud. Keep in mind that this is true even if you're getting a divorce.
A debt collector can contact your spouse. A debt collector can contact your parents or guardian if you are under 18 years old or live with them. A debt collector can also contact your attorney and, if otherwise allowed by law, credit reporting companies (Equifax, Experian, and TransUnion) about your debt.
Collection agencies can access your bank account, but only after a court judgment. A judgment, which typically follows a lawsuit, may permit a bank account or wage garnishment, meaning the collector can take money directly out of your account or from your wages to pay off your debt.
Most states or jurisdictions have statutes of limitations between three and six years for debts, but some may be longer. This may also vary depending, for instance, on the: Type of debt. State where you live.
Hiding from Debt Collectors Can Make the Problem Worse
In fact, it can get worse. Debt collectors can take legal action against you, resulting in additional fees and penalties. They can also report your delinquent accounts to credit bureaus, which will negatively affect your credit score.
Even though your card issuer "writes off" the account, you're still responsible for paying the debt. Whether you repay the amount or not, the missed payments and the charge-off will appear on your credit reports for seven years and likely cause severe credit score damage.
Key takeaways
Debt-to-income ratio is your monthly debt obligations compared to your gross monthly income (before taxes), expressed as a percentage. A good debt-to-income ratio is less than or equal to 36%. Any debt-to-income ratio above 43% is considered to be too much debt.
Paying an old collection debt can actually lower your credit score temporarily. That's because it re-ages the account, making it more recent again. This can hurt more than help in the short term. Even after it's paid, the negative status of “paid collection” will continue damaging your score for years.
In the golden rule, a budget deficit and an increase in public debt is allowed if and only if the public debt is used to finance public investment.
Creditors are limited to garnishing 25% of your disposable income limit for most wage garnishments. But there are no such limitations with bank accounts. But, there are some exemptions for bank accounts that are better than the 25% rule allowed for wages. This article will discuss the defenses to a bank account levy.
A collection company can contact other people to find out your address, your home phone number, and where you work, but usually it can't contact them more than once, and it can never tell them you owe a debt.
Yes, they can. Experian doesn't match information to a person's credit history using only the Social Security number. Experian matches information using all of the identification information provided by the lender, so the account will be accurately shown in your report, even if no Social Security number is provided.
Most creditors report your accounts and payments to the credit bureaus. You can check all of your debts for free by reviewing your free credit report from Experian. You can also get a free credit report from each of the three major credit bureaus (Experian, TransUnion and Equifax) by visiting AnnualCreditReport.com.