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By: Emie Carter

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Monday, 26-Nov-2012 04:54 Email | Share | | Bookmark
Take legal help to avoid harassment by collection agency

It has become a necessity for people to look towards financial institutions for financial help for the cause of serving their financial needs in life. The people with the means to provide financial aid are generally termed as creditors while those who are take the financial help are called as debtors. But, things can go awry between debtors and creditors if for some reason the debtors are not able to pay off the money that was borrowed. In the end, debtors may have to suffer harassment by collection agency which is a big problem that exists everywhere in the world.

These collection agencies are usually employed by the financial institutions to harass the debtors who are unable to pay the money. Normally, there exist two forms of collection agencies, namely third party and first party agency. The agency that works within the financial institution is known as the first party agency. On the other hand, third party agency is an external agency hired by the bank or other financial institutions for a limited amount of time. In reality, many third party collection agencies have been known to involved in harassment of debtors. Many collection agencies do not follow the guideline laid down by the authorities with regards to money collection. Most of this is due to the lack of professional attitude by the collection agencies as they do not impart the right training to their employees. This leads to harassment being faced by debtors if they fail to pay the amount borrowed on time.

Harassment comes in many forms. Collection agencies are quite capable of doing physical harm in addition to abusing your verbally over the phone by calling you repeatedly throughout the day. Even the family of the debtor may be subjected to harassment by these unruly agents. You should quickly reach out for legal aid in case you are being subjected to harassment by these collection agencies.

To stay away from getting into such situations, it is wise to take care to read through all the documents signed with the financial institution or bank or any other lender. Talking with the officials from the financial institutions at the start is a must regarding the rules and regulations for failure to repay the money. If the harassment by the collection agency goes out of hand, a complaint should be made with the bank. Keep an account of all the documents related to the complaints that you make. In case the harassment still goes on, you can take the help of lawyers and let them fight your case in court since it is actually illegal for collection agencies to harass the debtors repeatedly. Lawyer can be helpful in many ways. The lawyers would be able to explain all the options available to you in order to fight back against the people who harass you and your family.

Harassment by collection agency could also cause a lot of mental trauma to the debtor. In extreme cases it can even lead to suicides. So, you should look towards hiring a lawyer and fighting back with legal aid.

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