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Collections Law/Collection Laws and What I can do?

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Expert: Creditwrench - 5/14/2008


Question
I have an auto loan that was sold by the bank that I got the loan through to another not so well known firm.  First Investors Financial Services is who it was sold to.  When I was with the original bank I was given a loan payment book, which had my due date and the grace period that I had to get my payment to them with out getting late charges.  Now I have not payment book and no grace period.  If I am 1 day late I get 5-10 calls per day trying to get me to pay over the phone, which they will charge me for.  Some of those calls are after PM Eastern Time.  I was under the impression that they are not allowed to call after PM?  Also what constitutes harassment when talking about 5-10 call a day?  What should I do?  Do I have any legal rights?

Answer
If they are now the lender they can bug you to death and there is nothing you can do about it except to have caller ID on a phone that lets you assign a name to the phone call so you know whether or not to pick up the call or get a phone monitor program that makes them identify themselves in order to get the call through.

FDCPA does not apply to original creditors.  

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Creditwrench

Expertise

Debt Collections law, Fair Debt Collection Practices Act (FDCPA), Fair Credit Reporting Act (FCRA), federal law, how to properly answer court summons for collection cases, how to prepare federal cases against debt collectors, how to deal with debt collection phone calls.

Experience

I've been an active consumer advocate for more than 40 years and have helped hundreds of people win cases against debt collectors as well as helping them defeat demands for summary judgment lodged against them by banks, debt collectors and defeat mortgage foreclosures and keep their homes.

Education/Credentials
Paralegal courses for the most part.
I have been teaching people how to deal with judgments, mortgage foreclosures and other such problems both on and off the internet for many, many years. I am a Richard Cornforth information provider ever since 2000 and worked with many other organizations and causes since 1980. I was Oklahoma State Chairman for the nationwide drive to defeat the Constitutional Convention which was proposed by various factions within our federal government such as the Council of State Governments and the National Organization of State Governors who were working hard to organize a Constitutional Convention to be held in 1995 for the purpose of rewriting our American Constitution to be more acceptable to the United Nations. I worked with Senator Charles Duke of Colorado and Senator Don Rogers of California and many others across the nation to keep them from getting the number of delegate states required to lawfully hold a Con-Con and we were successful. I have worked with many other legislative issues in Oklahoma and have always been very successful.

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