Harassing phone calls, abusive language and physical violence are becoming a bigger part of business as debt collectors struggle to round up money from people who don't have it.
The No. 1 complaint is repeated calls, and it is not uncommon for collectors to bombard consumers with back-to-back calls for days, weeks, months and even years.
Other aggressive tactics that are becoming more common are debt collectors calling before 8 a.m. or after 9 p.m., demanding more money than what is owed, revealing a consumer's debt to a third party or threatening "dire consequences" like prosecution, jail time, property seizure or job loss.
Things are getting out of hand with this sort of thing. I will tell you from experience that banks like Bank of America and Chase will ring your phone off the hook trying to collect on late payments. But neither of those banks ever got nasty with me.
I do recommend getting a phone that can record conversations you have with creditors. If anyone gets out of line with you, you will be able to record their abusive behavior and it might just get you a settlement of a lifetime if you threaten to file a complaint with the Federal Trade Commission...the only thing you have to lose is your debt.
[This post is written and copyrighted by Financial Elite (http://financialelite.blogspot.com/ ).]
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