debtconsolidationconnection.com
501 (c)(3) non-profit Organization
Free Consultation
As collection complaints roll in, some may consider debt management plan
By Edith Barlow on Feb 26th, 2010
One thing people in debt may run into are collection agencies, which try to collect on what people owe.
Though consumers do owe the money, some debt collection outfits may try and use harassing tactics when interacting with consumers. A recent report from the Federal Trade Commission noted that the number of complaints about creditor and third-party debt collection came in second in 2009.
In all, 119,549 complaints were registered with the FTC during the year, which represented 9 percent of total amount received by the commission last year. Debt collection came in second to identity theft, which made up 21 percent of the complaints.
Given that some debt collection firms may use constant phone calls or threats when trying to collect debt, consumers may try and avoid such a situation all together by trying to pay off what they owe.
One option people may consider is a debt management plan, which can help consumers pay off debt at lower interest rates. By enlisting a plan to pay off debt, consumers may be able to get collection agencies off their back.
More Debt Management News
