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When a debt collector calls, it’s natural to feel intimidated or perhaps even panicked – especially if your finances have spiraled out of control. However, just because you’re in debt, this doesn’t mean that you no longer have legal rights. On the contrary, debt collectors are bound by strict laws that prevent them from engaging in harassing behaviors. You can protect your legal rights and your financial future by getting in touch with a bankruptcy lawyer to discuss your options.

Avoid Talking Too Much

After the debt collector identifies him- or herself, it’s best to resist the urge to say anything more than you must. Avoid offering information pertaining to your ability to pay the debt and avoid saying anything that might acknowledge that you do owe the debt. It’s not uncommon for consumers to be contacted by debt collectors regarding debts that they do not even owe. Instead, instruct the debt collector to send you a notice via mail. By law, debt collectors are required to send this notice within five days of contacting you.

Keep Up-To-Date Records

Keep a log of all communications with the debt collection agency, including phone calls and written correspondence. These records may be important in the event the debt collector violates your legal rights.

Consult a Bankruptcy Attorney

If you owe more than you can reasonably expect to pay off, you might consider whether bankruptcy is a good option for you. Bankruptcy offers consumers a second chance through the discharge of many types of debts, including credit card debt, personal loans, and medical bills. Although bankruptcy might not be appropriate in every case, it’s always a good idea to know what your options are. A bankruptcy lawyer can guide you through the decision-making process.

Are you being hounded by debt collectors? It may be time to consider filing for bankruptcy with the help of Cutler & Associates, Ltd.—a law firm serving residents throughout Schaumburg, Aurora, Skokie, and Chicago.