Debt

5 Debt Collectors, You Should be Familiar With

As you probably know, there are many different debt collectors out there. Some are more aggressive than others, some use underhanded tactics, and some may even break the law in their attempts to collect a debt.

That’s why it’s important to be familiar with the four debt collectors listed below. By knowing who they are and how they operate, you can better protect yourself from their tactics.

asg recoveries

ASG Recoveries is a debt collection agency that is known for its aggressive tactics. The company has been sued multiple times for using abusive language and making harassing phone calls. In one instance, a court found that ASG had violated the Fair Debt Collection Practices Act (FDCPA) when it made repeated phone calls to a consumer’s work number after being asked to stop.

dnf associates LLC

DNF Associates llc is another collection agency that has been accused of using abusive collection tactics. The company was sued by the Federal Trade Commission (FTC) in 2015 for allegedly making false and misleading statements to consumers. The FTC alleged that DNF told consumers they owed money for a payday loan they had never taken out, and then threatened them with arrest if they did not pay.

carson smithfield LLC:

Carson Smithfield llc is yet another collection agency that has been accused of using abusive collection tactics. The company was sued by the FTC in 2016 for allegedly making false and misleading statements to consumers. The FTC alleged that Carson Smithfield told consumers they owed money for a payday loan they had never taken out, and then threatened them with arrest if they did not pay.

Medicredit

Medicredit is a debt collection agency that is known for its aggressive tactics. The company has been sued multiple times for using abusive language and making harassing phone calls. In one instance, a court found that Medicredit had violated the Fair Debt Collection Practices Act (FDCPA) when it made repeated phone calls to a consumer’s work number after being asked to stop.

LVNV Funding

LVNV Funding is a debt collector that operates in all 50 states. The company is headquartered in Greenville, South Carolina, and was founded in 2006. LVNV Funding purchases debts from creditors and then attempts to collect on those debts. LVNV Funding is known for being aggressive in its debt collection practices, and has been the subject of multiple lawsuits. 

No one likes getting calls from debt collectors. But if you find yourself in the position of owing money to a creditor, it’s important to know how to handle these calls so that you can protect your rights.

Here are five tips for dealing with debt collectors:

5 tips to fight Debt Collectors

Tip #1: Don’t Ignore Them

It may be tempting to simply ignore calls from debt collectors, but that’s not the best course of action. If you don’t answer their calls, they may escalate their efforts by sending letters or even showing up at your doorstep. It’s best to deal with them directly so that you can come up with a plan for repayment.

Tip #2: Validate the Debt

You have the right to request proof of the debt that you allegedly owe. Many times, debt collectors will contact people about debts that they don’t actually owe. So before you do anything else, make sure that you validate the debt and only agree to pay what you actually owe.

Tip #3: Get it in Writing

Once you’ve validated the debt, get any agreement that you make with the debt collector in writing. This will protect you from any potential misrepresentation on their part. Make sure that any payment plan that you agree to is clearly spelled out in writing, including the amount of each payment and when those payments are due.

Tip #4: Don’t Give Personal Details Over the Phone 

Debt collectors may try to trick you into revealing personal information over the phone by pretending to be someone else. Never give out your Social Security number, credit card number, or bank account number to someone who contacts you about a debt. If they say they need this information in order to process your payment, insist on getting it in writing first. 

Tip #5: Try Settling or Negotiating 

In some cases, you may be able to settle the debt for less than what you owe or negotiate a payment plan that is more manageable for your budget. If you’re considering this option, make sure that you get any agreement in writing before making any payments. And always beware of anyone who asks for upfront fees in exchange for settling your debt—this is likely a scam. 

conclusion

As you can see, there are many different debt collectors out there who use various tactics to collect debts from consumers. Some of these tactics are legal, while others are not. That’s why it’s important to be familiar with the different types of debt collectors and their tactics. By doing so, you can better protect yourself from their attempts to collect a debt from you. Thanks for reading!