Many consumers find they are getting calls from debt collectors about unpaid and overdue bills. Do you know your rights when it comes to debt collection?
Take our quiz and find out.
The Fair Credit Reporting Act.
The Fair Debt Collection Practices Act.
The Debt Collectors' Bill of Rights.
None of the above.
True. I mean, you owe the unpaid debt 24/7, so that's when they can call, right?
False. Being a debtor doesn't mean collectors can use sleep deprivation techniques.
Send a letter asking for written verification that the debt is yours.
Exert your rights under the Fifth Amendment: Deny the debt is yours and hang up the phone.
Put on a foreign accent, tell the collector "No speak English! Wrong mumber! Wrong number!" and hang up the phone.
Throw away the letter because it is clearly the wrong address.
A civil suit filed against you.
A jail sentence.
A negative entry on your credit report and lower credit score.
Ironically, you'll be required to accept debt collectors' "collect" phone calls.
Denial of an application for a new credit card or car loan.
A debt that is beyond the "time limit" for filing suit to collect the balance.
An overdue bar tab.
A debt that has been "charged-off" by a bank or other creditor.
A debt that has barred any time limit. In other words, it's collectible forever.
Making harassing telephone calls.
Threatening to take your home and have you arrested if you don't pay your bills.
Leaving a voice mail message on your home answering machine with details about debts you owe.
Sending a letter asking you to contact the debt collection agency about your unpaid debt.
Repeatedly calling your job about unpaid bills.
Calling friends, relatives, neighbors and coworkers about debts you owe.
Your credit report will for seven years disclose that you paid less than you agreed, hurting your chances of getting another loan.
The IRS will consider the forgiven portion of the debt as income and the debtor may be liable for federal income taxes the following year.
A disreputable debt settlement company can collect your money but never pay off the debt as promised.
All of the above.
Paying off the same debt a second time.
Longtime couples are deeply indebted to the other, and they reaffirm their vows in a moving ceremony.
In a bankruptcy case, the judge will require a debtor to rise and acknowledge his or her debts before discharging them.
Agreeing to pay a debt that you are not legally required to pay.
Report the company to the Federal Trade Commission.
Send the debt collector a written request to verify that the debt is yours.
Contact your state attorney general to file a complaint about the company.
Contact ACA International, the debt collection industry trade group, to seek resolution to the problem.
All of the above.