Debt Collection – Unfair Practice Guidelines

When a debt turns bad, the creditor will engage numerous tactics to recover the debt. The tactics employed by the creditor varies from one company to another company. The most common ones are sending payment request letters by hand, normal mail, registered mails, couriers, emails or visit the debtor at his work place or home.

When faced with stubborn debtors, the creditors may engage third party collection agencies or engage a lawyer to file legal suit to recover the debts.

The debt collection tactics can turn rough and in certain cases have caused undue pressure to the debtors which can severe the health of the debtors and their closed ones.

Therefore, most countries have setup an Office of Fair Trading to monitor and control the money lending industry to ensure fair practices between both the creditors and the debtors.

All creditors must abide by a set of guidelines outlined by the local Office of Fair Trading. The main objective of the guideline is to protect the interest of the creditors without jeopardizing the health of the debtors. Included in this set of guidelines are the unfair debt collection practices which prohibit the use of improper actions by the creditor against the debtor during the debt collection process.

Many debtors and staff of the financial institutions or collection agencies are not aware of the existence of this unfair debt collection practices. Both parties are anxious to know what these guidelines are and has anyone been subjected to unfair practices.

Here I would like to share with you on some details of these guidelines which should be done or are prohibited during the collection process:

1. The creditors or collection agencies must identify themselves and let the debtor know about their identities, their roles and their purpose.

2. Unhelpful technical languages should be avoided by both parties.

3. If the debtor suggest a place or a time to meet later, such request should be regarded or considered.

4. The creditors or collection agencies should not do things that could jeopardize the debtors’ health such as ignoring requests of not contacting them at work which could jeopardize their jobs.

5. Putting the debtor under undue pressure.

6. Mislead debtor to believe that being in debt is a crime.

7. Suggest to debtors that they should their properties or assets to settle the debts or loans.

8. Recommend or suggest to debtors to apply for new loans to pay off their debts. Such act could amount to instigating the debtors to commit fraud.

9. Engage more than one debt collecting agency at any one time.

10. When the debt is in dispute with the debtors, the recovery proceedings or efforts should be temporary stop until they are settled.

11. It is the creditor’s obligation to prove the debts to the debtors.

12. The right to pursue legal suit against the debtors will lapse in the event that the creditors did not contact the debtors for more than 6 years with regard to the debts.

13. Creditors are fully responsible for the actions of the collection agencies that they appoint.

The above only provides a brief guideline of unfair practices and you should check with the local Office of Fair Trade for full details. All situations are investigated on a case-by-case basis and may differ from one another.

Creditors that found to be practicing unfair tactics can be penalized severely not limited to suspension of Consumer Credit License.

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How to Collect Free Health Insurance Quotes – Helpful Shopping Tips

The good health care nowadays is expensive. This is the main reason why you need reliable health insurance. In this way you will be able to afford regular health checks and adequate treatment. You and your family can only benefit from such an arrangement. The only problem is that the coverage plans are expensive. Thus, the best thing you can do is to shop around for free health insurance quotes.

Your main objective is to collect as many of these as possible. In this way you have a better chance of finding the most beneficial offer with the most affordable rates. The best way to shop for free health insurance quotes is to use the internet. You will get plenty of offers easily and quickly.

It is best not to look for insurance companies straight away. This is time consuming and often totally ineffective. You have to go to the website of a company that provides quotes from different insurer. You will simply need to enter your zip code or the state in which you live. Then you will be redirected to a list of insurers in your area. By following the links you will get directly to the pages on their websites

Then you have to fill in a short form with some personal details. This is necessary as this information will determine the costs you will have to incur when purchasing a coverage plan. You should not need any special help to fill in the form. You need to have a basic idea about your medical history and present condition. You may also have to enter similar details about your spouse and/or your children if you are looking for a family plan. You might want to remember some of these details in advance. In this way you will save time when requesting free health insurance quotes.

Generally, it is important for you to decide what type of insurance you need. You know best whether you need an individual or family plan. You can readily go for student health insurance if you have not completed your university education yet. It is often more difficult for the buyers to decide whether they actually need a short term plan or not. It is generally recommended to individuals in between jobs. It is also suitable for recent graduates who have not find a permanent position yet. However, these plans may not be beneficial for people on a very restricted budget.

Usually, you will not wait for more than a couple of minutes to get an offer from an insurance company. This is yet another reason why you should devote some time to shopping and collect as many quotes as possible. You should not hesitate to request offers from all insurers listed on the general directory website. You do not have research these companies one by one in advance as the quote providers have done this for you. Still, once you start comparing the different free health insurance quotes you should definitely look at the ratings of the different companies.