Debt collection – First Capitol is essentially the procedure of chasing payments of outstanding debts by people or companies. The people who are in debt often seek assistance from debt collectors in order to make the repayments. An agency which deals in debt collection is also called as debt collector or collection agency. It is not uncommon to encounter debt collectors trying to recover money from customers who are not even aware of the debt situation they are in. It is also not unusual for collection agencies to contact individuals and companies in order to ensure repayment and collection of accrued amounts.

A debt collector is not allowed to threaten any person or organization with adverse action such as cancellation of credit or removal of privileges. Collection agencies are not allowed to contact the person in question after a notice of default has been filed with the courts. This means that the debt collector is legally prohibited from contacting the individual in an attempt to collect money. Collection agencies are also not allowed to use illegal practices such as invasion of privacy or trespass. These practices are considered criminal offenses and can carry severe punishments such as jail time.

Debt collections can be a very frustrating and time consuming experience for consumers who find themselves faced with paying astronomical amounts to an unknown debt collector. When a consumer owes money to another person or business, it is usually their original creditor that requests payment from the debtor. There is a specific process that must be followed in order to pursue payments from an original creditor and to avoid being registered as a debtor with the court system. A consumer should ensure that they understand all the legalities surrounding the debt collection process before making any payments.

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