Can a debt collector contact anyone else about my debt?
Debt collectors cannot contact third party agencies about your debt.
However, they can contact third party agencies to discuss how and where to contact you.
Under the Fair Debt Collection Practices Act, third party agencies can discuss your location and how to contact you.
However, there are limits to the information that they actually can discuss.
And they might not even disclose that they are a collection agency.
Debt collectors are not allowed to disclose debt information to anyone else but you unless you are a minor under the age of 18 or you are a co-signer on the account that has agreed to disclose that information.
And if you are in financial hardship, and you want to speak to a debt expert about debt settlement, visit us at our website at alleviatefinancial.com.
How Debt Relief and Debt Settlement Work?
Debt Relief and Debt Settlement is a negotiated agreement by which a creditor accepts less than the total amount owed to legally satisfy a debt.
Settlement programs typically last 24-48 months and are highly dependent on factors such as delinquency, creditor policies, the number of accounts, and the total dollar amount of the debt.
Debt settlement services have existed in some form since the advent of debt itself.
The modern industry has seen significant growth in the 21st century, largely due to the easing of lending requirements by financial institutions.
In addition, today’s borrowers are taking on significantly more debt than their parents had at a similar stage in life and are subsequently paying off that debt at a slower rate.
[ECONOMIC INQUIRY, 2013]
These large debt loads and slower payoffs, coupled with today’s high-interest rates, mean that without intervention many borrowers could be paying off these loans for decades.
While there are a multitude of interwoven causes for these trends, industry experts point to increased access to larger amounts of credit coupled with a reduction in the social stigma of being in debt.
Potential clients speak with a certified debt specialist regarding their financial situation. The debt specialist evaluates the caller’s financial situation and suggests the optimal debt relief strategy. Clients choosing to enroll in our debt relief program are then guided through the enrollment process. Signed enrollment documents are processed and the new client receives a call from our team of dedicated account managers to welcome them to the program. Account managers are available 24/7 and remain in active communication with clients throughout the program. Our talented negotiations team begins working on client accounts immediately. When settlement offers are received they are first reviewed for accuracy and then presented to clients for approval. This process repeats until all client accounts have been settled.
Schedule Your Free Debt Analysis
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Negotiations & Settlement
Debts Resolved!
Your debts will be resolved in a few short years or even months so you can have a new beginning financially.
