Debt Dispute Can Be Resolved

What is Debt Dispute?

When a consumer is contacted by a debt collector regarding a debt, dispute may arise. The consumer may disagree with the validity of the debt or they may disagree with the amount owed.

When a consumer challenges a debt, it is known as debt collection dispute or simply, debt dispute.

Communication is the key to resolving a debt dispute.

Well known, reputable collection companies, such as NCO Financial Systems, Inc., work with debtors to resolve issues regarding a dept in dispute. They follow specific procedures outlined by the Fair Debt Collections Practices Act, or FDCPA, that regulate the communications between a debtor and a collector when there is a debt dispute.

There a reasons why a debt dispute may arise. The collector could have outdated information. The original lender may have provided inaccurate information when the debt was submitted for collection.  The consumer that has been contacted may not be the owner of the debt. In some cases, the consumer has forgotten about the debt or thought that the debt had been paid.

In any case, communication between the debtor and the collector will most likely resolve any issues regarding a debt dispute.

What role does the FDCPA play?

Debt collectors are governed by the Fair Debt Collection Practices Act, or FDCPA. The act is a federal law that covers collections on consumer debt. The FDCPA applies to third-party debt collectors.

What guidelines must outside debt collectors follow?

• Calling before 8 a.m. and after 9 p.m. is prohibited, unless the consumer says it's okay.
• Calling a consumer at work is allowed, but it's prohibited if the consumer asks the debt collector not to call because their employer won't allow personal phone calls.
• Contacting relatives, friends or neighbors regarding your debt is not allowed. A debt collector can ask these individuals how best to contact the consumer, but cannot discuss that you owe a debt.

For more information on the subject of debt dispute and the FDCPA, visit www.consumerhelpunit.org. At our website you can find information on how to contact NCO Financial Systems, Inc. Our representatives are ready to answer your questions 24 hours a day, 7 days a week to help try to resolve a debt dispute that you may have.

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