What is the 11 word phrase to stop debt collectors?
* Program length varies depending on individual situation. Programs are between 24 and 60 months in length. Clients who are able to stay with the program and get all their debt settled realize approximate savings of 43% before our 25% program fee.
This is a Debt resolution program provided by JGW Debt Settlement, LLC (“JGW” of “Us”)). JGW offers this program in the following states: AL, AK, AZ, AR, CA, CO, FL, ID, IN, IA, KY, LA, MD, MA, MI, MS, MO, MT, NE, NM, NV, NY, NC, OK, PA, SD, TN, TX, UT, VA, DC, and WI. If a consumer residing in CT, GA, HI, IL, KS, ME, NH, NJ, OH, RI, SC and VT contacts Us we may connect them with a law firm that provides debt resolution services in their state. JGW is licensed/registered to provide debt resolution services in states where licensing/registration is required.
Debt resolution program results will vary by individual situation. As such, debt resolution services are not appropriate for everyone. Not all debts are eligible for enrollment. Not all individuals who enroll complete our program for various reasons, including their ability to save sufficient funds. Savings resulting from successful negotiations may result in tax consequences, please consult with a tax professional regarding these consequences.
The use of the debt settlement services and the failure to make payments to creditors:
- Will likely adversely affect your creditworthiness (credit rating/credit score) and make it harder to obtain credit;
- May result in your being subject to collections or being sued by creditors or debt collectors;
- May increase the amount of money you owe due to the accrual of fees and interest by creditors or debt collectors.
Failure to pay your monthly bills in a timely manner will result in increased balances and will harm your credit rating. Not all creditors will agree to reduce principal balance, and they may pursue collection, including lawsuits. JGW’s fees are calculated based on a percentage of the debt enrolled in the program. Read and understand the program agreement prior to enrollment.
JG Wentworth does not pay or assume any debts or provide legal, financial, tax advice, or credit repair services. You should consult with independent professionals for such advice or services. Please consult with a bankruptcy attorney for information on bankruptcy.
What not to tell a debt collector?
Last reviewed: AUG 02, 2023
Debt collectors may ask questions to verify your identity, but you should never provide sensitive or financial information, at least not until you’ve verified the debt and that it’s not a scam.
If you’re contacted by a debt collector, they may usually ask you for certain information to ensure they’re talking with the right person before they can start asking about the debt. The Fair Debt Collection Practices Act (FDCPA) generally limits who debt collectors can speak to about your debt, so they may ask questions to ensure they’re talking to the right person.
Debt collectors are required to provide you with certain information when or soon after they first communicate with you, in a format usually called a debt collection validation notice. Usually provided electronically or in writing, the notice is meant to help you understand whether the debt is yours, and if not, how you can dispute it.
In addition, if you are speaking to the debt collector on the phone, you can also ask them to provide:
Learn more about the information debt collectors are required to provide
The debt collector may ask you for personal information to verify your identity. This may include:
- Name
- Address
- Date of Birth
If you choose not to verify your identity by providing information, like your Social Security number, the debt collector will generally ask you for another form of identification, including:
- Driver’s License
- Passport
- Utility Bill
Again, it is your choice whether or not to provide the information requested.
Never give out or confirm personal or sensitive financial information – such as your bank account, credit card, or full Social Security number – unless you know the company or person you are talking with is a real debt collector.
If the debt collector is a scam, they could use this information to:
If the debt is legitimate – but you think the collector may not be – contact your creditor about the calls. Share the information you have about the suspicious calls and find out who, if anyone, the creditor has authorized to collect the debt.
Learn the warning signs of a debt collection scam
If you’re having trouble with a debt collector, you can submit a complaint with the CFPB.
How do you fight debt collection?
When you’re facing off against a debt collector, it’s important to know the rules the collector must follow. However, just understanding your rights isn’t enough. Debt problems need a game plan, and yours will likely depend on whether you’re dealing with a case of misidentification or if you just can’t pay the bill.
When you first fall behind on a bill, your creditor will likely contact you and ask you to bring your account current. After some time, the account will get transferred to a debt collector. That’s when the federal Fair Debt Collections Practices Act (FDCPA) will apply.
Under the FDCPA, a collector can’t:
- Threaten you with violence or harm
- Use obscene language
- Call you repeatedly to annoy or harass
- Make false statements
A creditor that violates the FDCPA and causes you harm might have to pay you monetary compensation and fines if you sue civilly and win.
When you fall behind on a debt secured by collateral (property, such as your house or car, that you pledge against the debt), your creditor can use foreclosure or repossession tactics to recover the property, sell it, and apply the funds to your balance. In such a case, the caller will likely be the original creditor, not a bill collector, and you’ll need to look into options other than those offered in this article.
If you didn’t put up collateral (for instance, if the debt in question is a credit card payment or a cell phone bill) the collector can call or write to you, but that’s about it. A creditor can’t take the following actions until it files a lawsuit and gets a money judgment against you:
Take your property without permission
Contact your employer about the debt
Threaten to arrest you
There are exceptions, however. For instance, the government has the right to take these types of steps if you owe taxes or student loan debt.
Your options will depend on whether you owe the debt. For instance, it might (or might not) be worth fighting a legitimate debt in court. When making the decision, consider the amount of money and time you have to spend on the case, as well as whether you have a defense. However, if you don’t owe the debt, you’ll likely want to take action.
If you owe a debt, paying it in full or negotiating it down to a lower amount might be your best bet. If you don’t have the funds, you have other options:
- Set up a payment plan
- Seek debt relief assistance
- File for bankruptcy
If it isn’t your debt, you’ll likely want to dispute it. Here are a few suggestions that might work in your favor:
- Request validation of the debt
- Send a cease and desist letter
- Report the collector to the authorities
This general information doesn’t address all aspects of the collection process and isn’t legal advice. You should meet with a lawyer for an evaluation of your particular case.
If a debt collector sues you, you could have a defense. A lawyer can explain what defenses might apply in your situation.
Do debt collectors ever sue?
If you receive a notice from a debt collector, it’s important to respond as soon as possible—even if you do not owe the debt—because otherwise the collector may continue trying to collect the debt, report negative information to credit reporting companies, and even sue you. If you get a summons notifying you that a debt collector is suing you, do not ignore it—if you do, the collector may be able to get a default judgment against you (that is, the court enters judgment in the collector’s favor because you didn’t respond to defend yourself). The debt collector could then garnish your wages and bank accounts, meaning it could take money from your paycheck or accounts. Make sure you respond by the date stated in the court papers so you can defend yourself in court. If you are sued, you may want to consult an attorney.
The law protects you from abusive, unfair, or deceptive debt collection practices. Here is information about some common debt collection issues:
- Respond as soon as possible if a debt collector contacts you about a debt that you do not owe, that is for the wrong amount, that is for a debt you already paid, or that you want more information about. Make sure you respond in writing to dispute the debt. If you don’t, the debt collector may keep trying to collect the debt from you and may even end up suing you for payment.
- Within five days after a debt collector first contacts you, it must send you a written notice, called a “validation notice,” that tells you (1) the amount it thinks you owe, (2) the name of the creditor, and (3) how to dispute the debt in writing. Don’t give a debt collector any personal or financial information until it sends you this validation notice—it may be a scam.
- Dispute the debt in writing within 30 days of when the debt collector first contacted you. If you do so, the debt collector must stop trying to collect the debt until it can show you verification of the debt. You should dispute a debt in writing if:
For sample dispute letters, see the CFPB’s “What should I do when a debt collector contacts me?” If you have already paid the bill that the debt collector is trying to collect, include that explanation in your letter and send copies (but not originals) of any receipts, canceled checks, or other information you have to show that you already paid the bill. Send the dispute letter by certified mail with a return receipt, and keep a copy of the letter and receipt.
Debt collectors cannot harass or abuse you. They cannot swear, threaten to illegally harm you or your property, threaten you with illegal actions, or falsely threaten you with actions they do not intend to take. They also cannot make repeated calls over a short period to annoy or harass you.
Debt collectors cannot make false or misleading statements. For example, they cannot lie about the debt they are collecting or the fact that t.
How do I dispute a debt collection?
If you don’t believe you owe the debt, you can dispute it with the debt collector and the credit reporting company. If you dispute the debt in writing within 30 days of receiving information about the debt from the collector, then the debt collector must send you verification of the debt.