Become Debt Free

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It is scary to be in debt, especially if you are past due and the bill collectors are calling. It doesn't have to be that way. Just remember, if you live in the US, you do have rights and laws working for you.

No one has the right to harass you on the phone. They have the right to ask about the bill, but they cannot threaten you, use profanity, or intimidate you.

No one has the right to embarass you. That means they cannot call you at work if you tell them not to do it. They cannot call you at any other number where other people will know your business if you tell them not to do it. They cannot announce your debt in a public place like a billboard or newspaper. They cannot contact you about your debt via postcard or envelope announcing your debt.

If you send them a cease and desist letter, they must stop contacting you. Unless they plan on taking legal actions, they cannot make threats as such.

If your debt reached the statue of limitations, they cannot legally collect the debt unless you agree to pay it. In seven years, if no payment has been made, all mention of that debt must be removed from your credit report.

You can either play the waiting game of statue of limitations and seven years and do nothing if the debt is not yours or if you cannot make payments OR you can make payment arrangements within your budget.

Filing bankruptcy is a bad mark on the credit record, but it will clear you of debt obligations.

If you are going to pay your bills, pay more than the minimum payment and pay on time. You will whittle down the debt in no time and have a good credit record.