You Vs Debt Collectors - Diy$$

15 Questions | Total Attempts: 56

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You Vs Debt Collectors - Diy$$

This quiz comes to you from a former debt collector to inform you, the consumer, of your rights when receiving calls from collection agencies, particularly 3rd party collections. We were hired to pursue collecting actions, now its time to share. Lets see what you know so you can stop the debt collection calls and get started rebuilding your financial life. Once you complete this process, share with your family, friends, and others also.


Questions and Answers
  • 1. 
    How can you as a consumer tell a 3rd party collector to stop calling and they must stop?
    • A. 

      Demand the collector stop calling you and then hang up

    • B. 

      Tell collector they have a wrong number and hang up

    • C. 

      Send them a stop notice in writing to inform them to stop calling

    • D. 

      Do your best John Wayne impression to throw them off the call

    • E. 

      All of the above

  • 2. 
    What type of collector can demand payment after consumer defaults on a loan or debt?
    • A. 

      First Party - The business that billed consumer

    • B. 

      Third Party - The service/agency that the business hired to collect for them.

    • C. 

      Attorney

    • D. 

      All of the above

  • 3. 
    By law, collectors can call between hours of ___ AM -  ___ PM of consumer's time zone.
  • 4. 
    Anyone can talk to a 3rd Party Collector about debts of someone they are related to if
    • A. 

      Have POA (Pwer Of Attorney) to communicate on their behalf

    • B. 

      If the consumer which the collector is trying to reach authorizes them

    • C. 

      The person isn't home who collector is trying to reach

    • D. 

      Both A and B

  • 5. 
    Consumer is any person obligated or allegedly obligated to pay any debt?
    • A. 

      True

    • B. 

      False

  • 6. 
    When a consumer write a 3rd party debt collector stating they are refusing to pay, the collector
    • A. 

      Can continue to try to collect on debts since the debts is not disputed

    • B. 

      Inform consumer that contact will cease but may incur further action

    • C. 

      Must stop further collection demands

    • D. 

      Both B and C

  • 7. 
    The _ _ _ _ _ stands for Fair Debt Collection Practices Act
  • 8. 
     Violation of  FDPCA laws is
    • A. 

      Sending a postcard about the debt to consumer

    • B. 

      The consumer is contacted after sending "Stop" notice in writing

    • C. 

      A 3rd party collector uses neighbor in Wisconsin or Minnesota in an attempt to contact consumer

    • D. 

      When 3rd party collector does not identify consumer by anything other than their name and discloses consumers account info to another

    • E. 

      All of the above

  • 9. 
    When consumer's relative calls in from a number collector is calling and says she owns the phone used to reach him/her and says stop calling, collectors must Stop calls to that number.True / False
  • 10. 
    The FDCPA is enforced by the Federal Trade Commission agencyTrue / False
  • 11. 
    Which is the best practice when receiving calls from debt collectors?
    • A. 

      Screen your calls

    • B. 

      Answer the call, then negotiate the best price to pay off the debt

    • C. 

      Let the collectors blow up your answering machine

    • D. 

      Have your kid always answer the phone

  • 12. 
    When talking to a collector, you do not have to give out your personal information, but you must confirm if you are indeed the person they are looking for by
    • A. 

      Confirming some portion of Social Security # (Provide partial -optional)

    • B. 

      Confirming correct address

    • C. 

      Giving correct age / date of birth

    • D. 

      All of the above

  • 13. 
    How much will 3rd party collectors accept to negotiate a payment in full?
    • A. 

      Depends on type of day and mood of collector

    • B. 

      They only accept payment owed in full

    • C. 

      Whatever I want to pay

    • D. 

      Depends on how much consumer have on hand

    • E. 

      Both A and D

  • 14. 
    It is best to have minimum ___ % of the debt to negotiate an immediate payment in full with 3rd party debt collectors.
  • 15. 
    It is better to use a debt settlement company than to negotiate debts myself
    • A. 

      True

    • B. 

      False

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