Can Calls From Debt Collectors Be Stopped?

Being in debt is stressful enough. Getting repeated calls at all hours of the day from debt collectors only makes matters worse. An article from Money magazine details just how much of a problem calls from harassing debt collectors have become.

The Rules Are Being Ignored

The article references survey results collected by the Consumer Financial Protection Bureau. Even though the law requires that debt collectors stop calling if they have been asked to do so in writing, the survey shows that the calls usually keep coming.

Furthermore, the law limits creditors to calls between eight in the morning and nine at night. However, the survey shows that many are ignoring these guidelines. Debt collectors are also calling multiple times a week, and many consumers report feeling threatened by debt collectors, even though threats are illegal.

While the CFPB and other parties have taken action against creditors who break the rules, and new regulations are being proposed to protect consumers, the fact remains that debt collection is a billion dollar industry that does not seem interested in following the rules.

What Can You Do To Stop Creditor Harassment?

There is a way to put an end to harassing creditor calls and resolve the underlying debt problem: bankruptcy. Filing for bankruptcy comes with an automatic stay that is designed to stop all calls from creditors. If the creditor willfully violates the automatic stay, the creditor could face consequences and be required to pay you.

If you are interested in getting out of debt and living a life without fear of answering the phone, you should discuss your case with an experienced bankruptcy lawyer.