No one likes to deal with debt collectors. Their goal is to collect money. They do not care about the people they are collecting from, do not care if they are seeking the proper amount and do not care if they are harassing the wrong people. Individuals in Tennessee who are dealing with debt collectors and unfair debt collection practices may turn to a bankruptcy law attorney for assistance in seeking relief.
Unfair debt collection practices are not new. Debt collectors are always looking for new ways to get money supposedly owed to them. According to a recent news report, there is a new way in which debt collectors are trying to collect more from debtors. It is called overbiffing.
Overbiffing is when a creditor overstates a debtor’s balance. In other words, they inflate one’s bill and then attempt to collect the fabricated amount. Sadly, it has worked and thousands of consumers have paid more than they should have to debt collection agencies.
How do these companies get away with it? A lot of people fail to investigate the claims made by debt collectors. They just want the calls and harassment to stop so they pay up. This is a mistake.
Overbiffing is illegal and debt collection agencies engaging in this practice may be held accountable for their victims’ losses. Those who believe they are the victims of overbiffing can help themselves and others by reporting the matter to authorities. The Federal Trade Commission may step in to investigate and take action.
Not all debt collectors engage in overbiffing. Some are just trying to collect the funds owed them, but this issue is certainly something to look out for. Tennessee residents who are struggling to meet their debt obligations may have debt relief options open to them. An experienced bankruptcy attorney may be able to help them stop debt collector harassment and find the financial relief they are looking for.