Stop Debt Collectors: Credit.com CNN Issue #1

Are you being harassed by debt collectors? From unpaid credit cards, to library or parking fines, or medical bills that your insurance company was supposed to cover, the chances that you will get a call or letter from a collection agency are on the rise. Even if you dispute a bill, a collection agency may wield its power and put a ding on your credit report before it has verified that you owe the debt.

That's why it is so important that you understand your rights. Of course, you should pay bills that you owe. Today, though, there are many people who are trying to juggle putting food on the table and fuel in the car. Adding in the stress of constant calls from persistent debt collectors can be too much.

Yesterday, I was interviewed on CNN's Issue #1 about aggressive debt collectors. It's a great program that deals with the top issue facing most of us today: the economy. When the interview goes online I'll be sure to post a link.

After the interview the cameraman (Mike at WEDU in Florida) told me his debt collection story. An employee at the gym where he worked kindly let him out of his membership early. A year later, a debt collector called. He explained to the collector that it was a mistake, and he would just go over to the gym to straighten it out.

"No you won't," she threatened. "I am going to call the gym and tell them not to let you in the front door."

"Then you'll have to race me," Mike said. He hung up, and headed straight for the gym, arriving as the collector was calling them. Fortunately, the employee who had agreed to let him out of his contract still worked there and cleared it up. If he had left, it could have gotten much uglier.

I have written a new book together with personal finance expert Mary Reed and consumer law attorney John Ventura. If you're stressed out by debt collectors, our new book Stop Debt Collectors will give you the tools you need to protect your rights and resolve your debts.

The book is in production and will be ready shortly. In the meantime, send us an email at book(the at sign)credit.com so we can let you know as soon as it is available.

Gerri Detweiler – Personal finance author, radio host and credit expert. Gerri contributes budgeting, debt recovery and savings information online.