Harassing phone calls

The Fair Debt Collection Practices Act is designed to protect consumers from abusive, deceptive and unfair treatment by debt collectors. Sending a letter to the collection agency telling them to stop contacting you can stop the phone calls. Once notified, the collector can only write to inform you of action that they intend to take (i.e. legal suit)

Debt collectors are not allowed to call you at work. It is also important to negotiate with debt collectors by phone or in person. Communication should be written and copies should be kept so as to keep a record of what has happened. It is important that you call the creditors before you fall behind. Explain your willingness to repay your debts. The more willing they are to listen if you call before your bills become late. If you paid promptly in the past, they may be willing to work with you. Do not wait until your account is turned over to a debt collector. At that point the creditor has given up on you.

Are you breaking the law if you fall to make the minimum monthly payment? The answer is yes. You have made a contract with the creditor. All of those signed charge slips commit us to the payment plan of the card company. If the situation goes on long enough the creditors could force you into bankruptcy. Already the delinquency is reflected in your credit history, which will make it more expensive to borrow money in the future. Also, paying less than the minimum can trigger late fees and raise your interest rate to over 20%, which will mean even larger minimums each month. Credit issuers really don't care how hard it is to make payments - they live in a "bottom-line" world.