Welcome to Creditor Guide
Creditor Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
Understanding Creditor Harassment Laws
from:Harassing refers to an unwanted communication, either by phone or personal visits, and understanding creditor harassment laws can prevent these unwanted intrusions from strangers. If it is legitimate, the person will know the person or persons communicating. And society's mounting debts creditors are the number one reason so many complaints are being given to harassing.
The best protection for any consumer wanting information on the creditor harassment laws is to look at the Office of Fair Trading and their financial guidelines, better understanding what is fair or unfair in regard to debt collecting. This agency enables creditors to lend money to consumers as long as it is done legally, also setting guidelines for collecting. The OFT issues the creditors' "Consumer Credit Licenses." As long as the guidelines are followed, fair practices of money lending and collecting allow the businesses to stay in business. Otherwise, they will not.
As most attorneys will tell a person in regard to creditor harassment laws, the best way to avoid creditor harassment is to pay bills on time. A simple statement, a simple solution. But this is easier said than done, when natural occurring situations happen to every one of us at one time or another. Individuals do not go into debt on purpose, or as a way of life—even though it appears that way to several. Creditor laws are to help creditors regain a debt owed either to them and this is fair, but meanwhile what about the debtor? Creditor harassment laws are available to protect the debtor or consumer from the illegal and ruthless practices of creditors, attempting to regain a debt owed in any manner they can. Granted, not all are like them, but many are.
A big thing to do in applying steps of the creditor harassment laws is to decide whether or not the bill is actually legitimate. Do not take the creditor's word about it, ask for verification. This is a changed world, and if a buck can be made at someone's expense—well, we know what happens with scamming. Request a written report from the original creditor or the creditor's representative—"especially" if the debt cannot be remembered.
Another thing when looking at creditor harassment laws is to look at who the debt is owed to and what payment plans were set up, if any. At this point, it needs to be decided whether or not the bill is legit. If it is not, then some sort of proof needs to be showed that it was paid. If not, contact the creditor and set up some sort of payment plan with them, regardless how old the bill is.
If the terms are refused, and the creditor harassment continues, write a letter to them using the guidelines in several online law agencies, such as the Fair Debt Collection Practices Act or the Office of Fair Trading, following the legality of both agencies to take the creditor to court for harassing.
Creditor News
Mattel Sues MGA, CEO Larian Claiming Illegal Transfer After Bratz Verdict - Bloomberg
 Boston Globe | Mattel Sues MGA, CEO Larian Claiming Illegal Transfer After Bratz Verdict Bloomberg ... rival toy company and its chief executive officer illegally transferred more than $400 million to block Mattel from collecting the money as a creditor. ... Mattel Sues MGA Entertainment, CEO For Illegal Transfer Of Creditors' Money ... |
Trib creditors zero in on Zell - New York Post
 Reuters | Trib creditors zero in on Zell New York Post The judge overseeing the Tribune bankruptcy case yesterday appointed a mediator to try to hammer out a settlement after dueling creditor groups failed to ... Tribune Talks to Be Guided by Mediator Judge appoints mediator in Tribune bankruptcy case Tribune gets bankruptcy mediator; develops new Sunday edition |
Fulton creditors' review time extended - Arizona Republic
Fulton creditors' review time extended Arizona Republic 4, 2010 12:00 AM A US Bankruptcy Court judge on Thursday gave the creditors of Fulton Homes Corp. two more weeks to review the Tempe-based homebuilder's ... |
Creditor says Innkeepers may get $236 mln investment - Reuters
 Miami Daily Business Review | Creditor says Innkeepers may get $236 mln investment Reuters Aug 31 (Reuters) - Midland Loan Services Inc, a creditor of Innkeepers USA Trust INKPQ.PK, said asset management firm Five Mile Capital Partners LLC has ... Tronox, Tribune, Circuit City, Visteon, Lehman: Bankruptcy Innkeepers, HSH Delaware, Crucible, P&C Poultry, GM, Garlock: Bankruptcy Innkeepers Can Borrow $53 Million in Bankruptcy |
Tribune Delays New Reorganization Plan to Continue Talks With Creditors - Bloomberg
 Los Angeles Times | Tribune Delays New Reorganization Plan to Continue Talks With Creditors Bloomberg That alliance was built on an April agreement among JPMorgan and Angelo Gordon and creditors Law Debenture Trust Co. and Centerbridge Credit Advisors to ... Tribune continuing talks with creditors Tribune Files No New Bankruptcy Plan Tribune reports $6.37 million net profit |