Archive for the ‘credit debt mediation’ Category

Consumers In Debt: Know Your Rights!

February 27, 2009

The Chicago Tribune has an article on debt collect tips that consumers should know.

They are:

  1. Answer the phone
  2. Be brief
  3. Know the times they are allowed to call
  4. Ask for verification of the debt in writing
  5. Give them a time frame
  6. Make a deal (added by me: use a mediator if needed)
  7. Keep good records

For a Full description of the tips, read the article [here]
I came across this site, Credit Mediation Services, an Australian company of “professional negotiators” that helps you “typically lower your debt by over 50%”. They specialize in Credit Cards, Store Cards, Personal loans, Trade debts, Old secured debts, and School debts.

To no surprise, there is no mention anywhere of what the fees are or how they go about charging the clients.
In many situations, the people being taken to court by debt collection agencies are not represented by an attorney. Getting tips like simply asking for proof of ownership of the debt is paramount to the direction of the case. The problem is many people do not know this and only come across this information after hiring a debt assistance company to help.

In response to that, if any people out there reading this is in that situation, I might have saved you some money 🙂
There are also many other free resources out there that can provide assistance. Many court systems give out free booklets when choosing to represent yourself. Mediators, new and old, might want to track it down in your local jurisdiction to further educate yourself if you mediate debt related cases.