If you are contacted by a collector you should know your rights. A nationally recognized consumer advocate and credit repair expert offers some useful advice about dealing with collectors, and coming out ahead.
The Basic Rules
Collectors are governed by the Fair Debt Collection Practices Act (FDCPA). Collectors do not always play fair, so it is best if you know the rules. Collectors cannot report a collection to the credit bureaus unless they have sent you a letter detailing the debt and the identity of the original creditor. They must also provide an explanation of your right to challenge the debt within thirty days of receiving the letter; if used properly this is a powerful credit repair tool.
