Getting frustrated with attempts by debt collection companies to collect a debt that you may not even owe? If so, you are not alone.
Harassing calls from debt collection agencies are not uncommon. Unfortunately, a large number of people experience these calls for debt that they don't even owe. According to the Consumer Financial Protection Bureau, 40 percent of all reported complaints about debt collection practices are the result of attempts to collect on debt that the consumer does not even owe.
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Overwhelming consumer debt is a harsh reality that affects many people in Smith County and the rest of Texas. While some of those people are in debt due to a difficult economic environment, others are in debt because of unplanned or surplus spending. Irrespective of how the debt was accumulated, the fact remains that people have to deal with creditors and debt collection agencies who are entitled to file a lawsuit against the debtor according to the provisions of the Fair Debt Collection Practices Act.
In Texas, and the rest of the country, consumer debt is at an alarming level. Be it credit card debt, medical debt, student loan debt, home mortgage or a car loan, many people are struggling to keep up with regular payments due to financial difficulties that plague them. In fact, some people even have difficulties keeping up with the basic requirements, such as utility bills and day-to-day expenses for themselves and their families.
Life is often unpredictable. Any undesirable event, such as job loss or health problems, has the potential to complicate a person's life. Tyler, Texas, residents may be aware that when the economy is not healthy, the consequences may be unpleasant. Job loss can ultimately lead to an increase in consumer debt, which may be difficult to pay off. In that case, the debtor may have to face creditor harassment.
In Texas as elsewhere in the country, many people carry consumer debt. Most are able to pay it off over time, but sometimes unfortunate circumstances lead to debt that cannot be easily paid off. This often leads to harassment from debt-collection agencies.