CALL NOW!
FREE PHONE/VIRTUAL CONSULTATION

How Bankruptcy Can Help You Deal with Debt Collectors

Debt comes with a great deal of baggage, especially when you’re overwhelmed by it. Nobody wants to have debt, but an affordable mortgage or car payment each month is manageable and considered “the norm.”

However, when you have so much debt that you barely have enough to afford you’re living expenses each month, or that you’ve fallen behind on payments, debt becomes downright crushing.

What Happens When You Fall Behind?

Anyone with serious debt problems who has fallen behind on payments knows how aggressive debt collectors can be.

For many, collection efforts are the worst part of financial problems. They can handle damage to their credit and giving up their ability to get loans in the future, but they are unable to deal with the endless phone calls and letters demanding payment.

And this is assuming the actions by a debt collector are within the law. There are plenty that straddle the line between legal and illegal practices, and some that just step right over it, willing to risk their right to collect a debt because they know they might be able to intimidate you into paying.

Knowing Your Rights

The good news is there are laws in place to protect you from aggressive creditor harassment.

Debt collectors can still cause a great deal of trouble, but there are things they are legally not allowed to do and if you can prove they are doing these things it will work in your favor.

Collectors have a limited number of tools in their toolboxes early on, so many try to shame debtors into paying their debts voluntarily. If they know a debt is too small or too old to pursue in court, they might try to convince you to pay without legal action. Understanding the statute of limitations on a debt and knowing what actions cross the line between legal and illegal can go a long way in helping you deal with collection efforts.

Knowledge is power and the more you know about your rights as a debtor the better.

To learn more about what debt collectors can and cannot do, read these guidelines from the FTC.

Know Your Options

Once you know enough to protect yourself against daily collection efforts, you can focus on your options for resolving the debt.

Obviously, the best option is to pay off the debt in full and meet your obligation, but this is rarely possible for people who have fallen behind on debts. If they could’ve afforded their payments creditors would not be harassing them in the first place.

You also have the option of settling the debt for less than the total amount owed or consolidating multiple debts into one single debt with one single monthly payment. Both of these options can help, but they also have consequences and you’ll want a complete picture of what you’re getting into before making a commitment.

Every situation is different and it’s important to consult a debt expert before making your choice.

Bankruptcy

One of the best ways to deal with collection efforts is to file for bankruptcy. It won’t solve all of your financial problems, but it will stop debt collection immediately. By law, once you file, creditors must stop contacting you regarding your debt. Not following this strict boundary can get them into trouble.

If you’re drowning in debt and the daily calls and debt collection efforts have gotten out of hand, bankruptcy can help. For more information or to schedule a consultation to discuss your options, contact the Law Office of Robert M. Geller at 813.254.5696.

Archive

Video Testimonials

Tampa Bankruptcy Law Blog

Here’s How You Can Rebuild Your Credit

How do you repair this damage and rebuild your credit after filing for bankruptcy? Many people believe that filing for...
Read More

How Can You Practice Smart Credit Card Management after Bankruptcy?

How can you learn better credit card management after bankruptcy? Using credit after bankruptcy is an intimidating experience for many...
Read More

How Do You Improve Your Credit Score?

How do you improve your credit score? Here's what you need to know. Your credit score plays an important role...
Read More

Does Bankruptcy Credit Counseling Work?

Bankruptcy credit counseling helps you emerge from bankruptcy understanding credit management. People filing for bankruptcy must take two courses regarding...
Read More

5 Things That Boost Your Credit Score

Your credit score has a major impact on your financial life. You can be a great person with a bad...
Read More

How to Correct Errors on Your Credit Report after Bankruptcy

How do you deal with errors on your credit report after bankruptcy? In a perfect world, you could ignore your...
Read More

Tips for Rebuilding Your Credit after Bankruptcy

One of the primary goals after filing for bankruptcy is rebuilding your credit. As tempting as it might be to...
Read More

I’m Starting a New Life and I want a Financial Fresh Start – Should I File for Bankruptcy Now or Wait?

As the say goes, “when it rains it pours.” If you’ve found yourself experiencing financial difficulties while also dealing with...
Read More

What Does It Mean to Get a “Financial Fresh Start” in Bankruptcy?

Financial Fresh Start You’ve probably heard it before. “Bankruptcy gives you a financial fresh start.” It’s something stated on this...
Read More

Tips for Overcoming the Negative Emotions of Bankruptcy: How Can an Attorney Help Me with My Finances?

As advantageous as bankruptcy is when you are struggling financially, it’s still a stressful experience. Some people have a tough...
Read More

Bankruptcy

For The Next 5 Days GET A FREE BOOK About Bankruptcy

Learn More

Infographics

We are A Debt Relief Agency.
We help people file for bankruptcy under the Bankruptcy Code

Pay Online Bankruptcy Courses Newsletter Subscription

NACBA Logo avvo1 avvo2 avvo3 LEA BBB Logo RG Seal

Call For A Free Initial Consultation

813.254.5696

Tampa Office

Law Offices of Robert M. Geller, P.A.
807 West Azeele Street
Tampa, FL 33606
T: (813) 254-5696
T: (800) 853-7549
F: (813) 253-3405

Map And Directions

St. Petersburg Office

Law Offices of Robert M. Geller, P.A.
125 5th Street South
(Wells Fargo Financial Center)
2nd Floor, Suite G
St. Petersburg, FL 33701
T: (727) 532-3939

Map And Directions

Pasco Office

23526 State Road 54
Lutz, FL 33559
T: (813) 336-2320

Map And Directions