What are Your Options for Dealing with a Debt Collector?

Having a debt in collections is no fun for many reasons, but most of all because debt collectors have the potential to flip individuals’ lives upside down. Everyone, from comedians like John Oliver to government bureaus like the Consumer Financial Protection Bureau (CFPB), has noted the degree of misinformation and abuse that can go on in the debt collections process. While many debt collectors abide by the rules, the fact is that not only does fraud exist, but legitimate companies can also demand non-existent or out of date debt. As a consumer, the most important thing you can do is to try to understand the debt collection process and know your rights.