Debt Collectors - Rules in Place to Navigate the Conversation

If you’ve ever borrowed money or received a service, there’s an expectation to pay the loan back or pay for the services rendered. Unfortunately, paying isn’t always an option and you fall into collections (like with Unifin, Inc.).

Debt Collectors, such as Unifin, Inc. may call, text, email or send you a letter regarding your outstanding balance. But what rules are in place to help you navigate through the conversation?

Debt Collectors including Unifin, Inc. have laws including the Fair Debt Collection Practices Act that they have to abide by. Some basics that you should know include:

• Collectors are restricted to calling only between 8 am and 9 pm (unless they have your permission to call outside that time)

• You may send a Cease and Desist letter to the debt collector. This will prevent the debt collector from communicating with you further, including to negotiate a resolution of your account.

• Collectors are not allowed to call 3rd parties more than once to obtain location information

• Debt Collectors can not give false or misleading information

To learn more about the Fair Debt Collection Practices Act click here

Consumer Resources providing information and tools to make informed financial decisions can be found here