Mississippi and other states challenge debt collectors

The struggling economy has plunged many Mississippians and other Americans into significant debt. The increase in the number of people facing debt has spurred state and federal leaders to challenge debt collectors. In addition to receiving debt relief from new governmental initiatives and regulations, Mississippians can also combat their financial challenges with personal bankruptcy. Together, these community and individual efforts can offer Mississippians significant relief.

Government leaders throughout the nation recognize that debt collectors are now resorting to aggressive tactics to collect on unpaid bills. Specifically, some debt collectors may use constant telephone calls, threats of arrest and other forms of harassment to intimidate individuals who have missed payments or have unpaid bills. Many of these debt collection tactics are already illegal. For example, federal law prohibits harassment and limits the frequency and hours that debt collectors can call.

Although such provisions already exist, government leaders are taking additional steps to combat debt collectors' practices. California is one site for such new regulation since it is the principal place of business for several national debt collecting companies. In particular, California lawmakers are attempting to pass legislation that requires debt collectors to document that they are pursuing the right person for the correct amount of money.

The recent initiatives by lawmakers throughout the country will definitely benefit Mississippians who are experiencing financial challenges. The legislative process is often slow, however, and it can be a long time before people experience personal relief. Fortunately, there are individual measures that Mississippians can take to quicken the process of their debt relief.

One solution is personal bankruptcy. Bankruptcy offers Mississippians the ability to cope with their unpaid bills and make manageable payments. Bankruptcy is a general term, referring to the court procedure that individuals can use to get rid of their debts. There are several forms of personal bankruptcy available to individuals. It is best for individuals to seek out legal advice to understand what is the best bankruptcy option for their particular situation.

Lawmakers are working hard to help individuals combat their debt relief. In addition to relying on these initiatives, Mississippians should also ascertain how they can personally resolve their financial challenges. Personal bankruptcy is just one solution available to Mississippians.

Source: SunHerald.com, "Complaints mount against debt collectors," Jim Puzzanghera, Aug . 27, 2012

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