An Introduction To Debt Defense

By: Sheree Mendoza

Every single year there is thousands of people that sued over credit card debt. If you have ever suffered this then you will probably feel that you really have not got much debt defense but this is not the case in all occasions. A lot of people that are struggling with debts feel that they actually do not have any power or choices. If you are one of these people it may be a good idea to contact a debt advice company as these companies can help you to get back on your feet.

There are a lot of people that are worried by debt collectors however they are really actually nice fluffy bunnies. It is true to say that debt collectors are really just normal people that are doing their jobs, which is something that does need to be done.

It is important to remember that creditors and debt collectors do from time to time make mistakes. If you do not agree with the amount that you are being charged it is important to check it and put in a query as you do have the right to dispute it. If you would like to dispute a debt then it can often be a good idea to seek advice from a financial advisor.

If you feel that the debt may have already been paid then it is important to contact them and tell them that you have paid it. It is best to contact them in writing and state that the debt has already been paid. It is very important to send them the relevant paperwork that shows that the debt has been repaid. It is also very important to ask the debt collector why he is contacting you. If the collection continues after doing these things then you can make a complaint unless there is an adequate explanation given.

If you receive a debt collection letter and you do not feel that you owe that amount then it is very important to request an itemised statement. This itemised statement should clearly show what you owe and how the amount is calculated. The itemised statement should also show any payment that have been made and details of any fees and charges that have been applied. When you get the itemized statement it is very important to check through it carefully. It may include expenses that have been added by the debt collector or the fees for recovering the debts. It is very important to check if you need to pay and it can be a very good idea to seek advice on these.

If you feel that you are being pursued by debt which is not your then it is important to query it and you have the right to do this. This error could be caused by a case of mistaken identity.

It is a good idea to remember that you are not responsible for paying anyone else's debt unless you re acting a guarantor. It is a good idea to avoid being a guarantor as this means that you will be responsible for the debt if the repayments fall behind.

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Article Source: http://yourfinance.co.za