We’ve always been big advocates when it comes to educating consumers on their rights when it comes to debt collections as well as how to effectively work with a collector to take care of financial obligations. Our professional debt collectors maintain honest and open communications when they’re doing their job and they provide the resources available to make sound decisions.
The collection industry as a whole is doing its part as well. And a new website will help consumers navigate the challenges that come with paying off debt and managing it in the future.
The website is Know My Debt, and it was created by ACA International-The Association of Credit and Collection Professionals. That’s right, a website dedicated to helping consumers has been created by the collection industry. It’s a valuable resource that not only educates consumers but also promotes financial literacy. Any number of questions about debt collections can be found on this site and it gives consumers a roadmap on how to navigate debt and pay it off.
What can be found on Know My Debt?
Information on understanding consumer rights and debt collections
We think it’s incredibly important for all consumers to understand their rights when communicating with a debt collector. In fact, when a consumer does understand their rights, much more progress can take place when it comes to resolving past-due debt. No consumer wants to be in debt, and many have questions about how to resolve that with a debt collector. Consumers want to be treated fairly and they want to know that those in the collection industry are adhering to their obligations.
Some of the more common questions that come up about debt collections involve when and how a debt collector can call a consumer. How many times can a debt collector call me in a week and where can they contact me?
Other common questions revolve around what type of information a debt collector needs to supply you and can a debt collector threaten a consumer with legal action? All these answers and more are supplied to you on the Know My Debt website.
Getting a handle on consumer debt
The website also provides an enormous amount of resources when it comes to navigating consumer debt. Many times the consumer has more questions than just about the rights they possess. A consumer wants to know more about the specifics of the debt they owe and how to pay it off. You’ll get answers to common questions about your credit report, correcting inaccurate information on a credit report, how to communicate with a debt collector, as well as how to handle debt with others such as a spouse or other family member.
How you can plan for a debt-free future
Having debt and to a further extent having outstanding debt can affect your financial future. Know My Debt answers many questions about how to navigate the future with your finances. Consumers can learn more about how to improve their credit score, how that credit score affects the eligibility for future credit as well as the answers to other commonly asked questions about credit bureaus.
Other factors about collection agencies you should know
We’d like consumers to understand that speaking with a debt collector can be a positive experience. And we are not alone. More and more collection agencies are understanding that diplomacy, respect, and the ability to help others is the true way to be successful. For everyone.
Many times a debt collector can tip a consumer off to other factors that could have a negative effect on their financial future. For example, many times we uncover another debt that they may not be aware of and that they are eager to clear up. In other cases, we have identified issues regarding identity theft. A debt collector can also get the ball rolling on improving a consumer’s credit score by constructing payment arrangements.
Consumers need to understand that a professionally trained debt collector can actually work in their favor. It takes communication and a willingness for both sides to come to an agreement. It also takes an educated consumer and the website Know My Debt offers these educational resources.
Thousands of consumers each year, thank our debt collectors for helping them resolve a situation.
Visit the website to get more acquainted with your financial future. https://www.knowmydebt.com/