What is the 11 word phrase to stop creditors?
If you want to stop debt collectors from calling you, the phrase to use is: "Please cease and desist all communication with me about this debt." This simple phrase, when sent in writing to a debt collector, legally requires the debt collector to stop contacting you except to notify you of specific actions, such as ...
The phrase in question is: “Please cease and desist all calls and contact with me, immediately.” These 11 words, when used correctly, can provide significant protection against aggressive debt collection practices.
It's easy, just write the debt collector and let them know you do not want any further contact from them. Include your name, address, phone number, and account number in your letter.
The 7-in-7 rule, established by the Consumer Financial Protection Bureau (CFPB) in 2021, limits how often debt collectors can contact you by phone. Specifically, the rule states that a debt collector cannot: Make more than seven calls within a seven-day period to a consumer regarding a specific debt.
The legal loophole is the debtor has no right in law to know or enquire who ownes the debt which then makes the contractural relationship no longer transparent.
As soon as you use the 11-word phrase “please cease and desist all calls and contact with me immediately” to stop the harassment, call us for a free consultation about what you can do to resolve your debt problems for good. Below are just a few of the many areas we proudly serve for bankruptcy cases.
- Check Your Credit Report. ...
- Make Sure the Debt Is Valid. ...
- Know the Statute of Limitations. ...
- Consider Negotiating. ...
- Try to Make the Payments You Owe. ...
- Send a Cease and Desist Letter.
You never want to give the debt collector personal information about your finances and assets, such as your Social Security number, your bank account number unless making a payment, your income, or the value of your assets.
- contact you at unreasonable places or times (such as before 8:00 AM or after 9:00 PM local time);
- use or threaten to use violence or criminal means to harm you, your reputation or your property;
- use obscene or profane language;
You have the right to tell a debt collector to stop contacting you. If you ask a debt collector to stop all contact – regardless of the communications channel – the collector must stop. Keep in mind, though, that you could still owe the debt.
What is the 80 20 rule in collections?
FAQ on Credit Control: Prioritising Collections
Use the Pareto Principle (80-20 rule); that is, often 20% of your customers will account for 80% of the overall money owed to you.
Debt collectors don't want you to know that you can make them stop calling, they can't do most of what they tell you, payment deadlines are phony, threats are inflated, and they can't find out how much you have in the bank. Furthermore, if you're out of state, they may have no legal recourse to collect.
- Bankruptcy: Writes off unsecured debts if you cannot repay them. Any assets like a house or car may be sold.
- Debt relief order (DRO): Writes off debts if you have a relatively low level of debt. Must also have few assets.
- Individual voluntary arrangement (IVA): A formal agreement.
Debt collectors cannot harass or abuse you. They cannot swear, threaten to illegally harm you or your property, threaten you with illegal actions, or falsely threaten you with actions they do not intend to take. They also cannot make repeated calls over a short period to annoy or harass you.
Zombie debt generally refers to debt that is more than three years old, which has either been forgotten about, already paid off, or belonged to someone else. It can also be the result of identity theft, a computer error, or a fraudulent attempt to collect on a debt that does not exist.
You have two tools you can use to dispute a debt: first, a debt validation letter the debt collector is required to send you, outlining the debt and your rights around disputing it; then, a debt verification letter. You can submit a written request to get more information and temporarily halt collection efforts.
But what if there was a simple, powerful phrase that could put an end to their relentless pursuit? Thankfully, you can stop debt collectors in their tracks with these 11 words: “Please cease and desist all calls and contact with me, immediately.”
Send a Cease-and-Desist Letter
Use a from the CFPB as your template. Send the letter by certified mail and purchase a return receipt. If you have evidence that the debt isn't yours, include it with the letter. If you send the letter by mail, use certified mail and purchase a return receipt.
11 in words can be written as Eleven. Using a place value chart, we can easily derive the number 11 in words. If you have 11 coins, you can say, “I have Eleven coins with me”. Here, 11 is a cardinal number since it denotes some specific quantity.
“Credit Secrets Book + 11 Word Phrase” by the Financial Mastery Institute is a two-part 260-page guide to improving credit scores, reducing debt, and achieving financial independence. .
What not to say to a debt collector?
- Don't Admit the Debt. Even if you think you recognize the debt, don't say anything. ...
- Don't provide bank account information or other personal information. ...
- Document any agreements you reach with the debt collector.
If this period elapses without legal action, the plaintiff cannot collect it through the court system. For most debts in California, including those based on written contracts and open-ended accounts like credit cards, this statute of limitations is four years.
If you do not want to deal with debt collectors on the phone, there is an easy exit door available: Send them a cease-and-desist letter by certified mail that says you no longer want to be contacted by them.
- “Let's see what your boss has to say about this.”
- “We're going to have you arrested if you don't pay.”
- “Pay us now, or we're going to ruin your credit score.”
- “I don't have to tell you that.”
- “I'll keep calling.”
- The bottom line:
Once you have gathered the information you need, contact each creditor, explain your family's situation, and ask for their assistance in working out a solution. Be prepared to explain the following: The reason you cannot pay. Your current income and prospects for future income.
