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Posts tagged "creditor harassment"

Improving credit by managing credit card usage

People in Kentucky can work on improving their credit simply by managing credit card debt, making payments on time and proactively checking their accounts every day. After time passes, they can see their credit scores improve as a result.

Federal law protects debtor from abuse by collection agencies

Natives of Kentucky who have used a debt collection agency to reduce monthly payments and settle debts may find it interesting that there is a federal law that protects an individual's rights whenever a bill collector is being abusive to a consumer. In some cases, a collector will call an individual multiple times, demanding payment in an unprofessional manner.

What can be done to stop debt collectors from contacting me?

Creditors have the legal right to contact debtors via various means, including through mail and over the phone. Debts that collectors might go after include unsecured credit cards, medical bills, home loans and auto loans. The Fair Debt Collection Practices Act determines what creditors and debt collection agencies can and cannot do. When a consumer defaults on a debt that they owe, the creditor can hire a debt collection agency to collect on that debt.

Kentucky and the national credit card debt

Kentucky residents partake in the national trend towards increasing credit card debt. The combined households of America currently owe as much as $11.71 trillion. This number has increased about 3 percent since 2013. This means that the average household that carries debt has approximately $15,608 that they are liable for.

Credit card debt and the Kentucky statute of limitations

Kentucky law protects citizens who owe debt to credit card companies from being sued by collections agencies after a period of years has passed. This is meant to protect residents from being forced to defend themselves in a court of law after a long time has passed and their ability to produce exonerating evidence is impaired.

Restrictions on debt collectors under federal law

The Fair Debt Collection Practices Act places restrictions on what debt collectors may do when attempting to collect an overdue credit card debt from a Kentucky resident. For example, a debt collector may not call before 8 a.m. or after 9 p.m. without permission to do so. They are also prohibited from calling a debtor at work unless given permission to do so.

Dealing with credit card debt after death

Kentucky residents who have recently lost a loved one might assume that decedent's debts disappear with them. However, just as the estate must handle the distribution of assets to heirs, the estate is also held liable for the person's outstanding balances. In fact, the estate is usually required to settle the debts before the assets are given out according the deceased individual's will.

Dealing with credit card debt and concerns about garnishment

Some consumers live in fear of what credit card companies can actually do to them. One question that often arises is whether they can garnish an IRA, especially if the IRA is with the same issuer as the credit card in question.

Woman sues retailer for creditor harassment

Kentucky readers might be interested in a creditor harassment case recently filed against national department store chain Kohl's. The plaintiff in the case claims that the retail giant called her incessantly, including calls that occurred early in the morning and late at night, in pursuit of a $20 credit card debt. She says she chose not to pay the debt, which was apparently legitimately incurred in November 2013, because of frustration with the way she was treated by Kohl's customer service department. She believes the company broke the law in its attempts to collect the debt.

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