This week, the Office of the Attorney General\u2019s \u201cConsumer Caution Corner\u201d outlines the Federal Trade Commission\u2019s guidance on how to manage debt.
\nIf you owe money you cannot repay, you need a plan. Do not ignore the problem. There are people who can help you.<\/p>\n
Where do I start?<\/strong> How can I get help?<\/strong> What do I do about calls from debt collectors?<\/strong> \u2022 When you get the validation notice:<\/em> \u2022 If you want the collector to stop calling:<\/em> Each week, the OAG\u2019s Consumer Protection Education Program (a.k.a. \u201cThe Consumer Caution Corner\u201d) shares FTC and\/or Federal Communications Commission publications that provide consumers and businesses with the \u201cknow-how\u201d to identify and protect themselves from unfair trade practices and marketplace schemes. If you would like to file a consumer complaint, please pick up a form at the OAG (on Capital Hill) or request one by email from consumer_counsel@cnmioag.org. After completing the consumer complaint, please submit it by email or in-person. Michael J. Cyganek is consumer counsel at the Office of the Attorney General.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":" This week, the Office of the Attorney General\u2019s \u201cConsumer Caution Corner\u201d outlines the Federal Trade…<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[2626,9613,14800,86],"class_list":["post-256192","post","type-post","status-publish","format-standard","hentry","category-opinion","tag-attorney-general","tag-federal-trade-commission","tag-ftc","tag-oag"],"_links":{"self":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/256192","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/comments?post=256192"}],"version-history":[{"count":0,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/256192\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/media?parent=256192"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/categories?post=256192"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/tags?post=256192"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n\u2022 Step #1: Make a budget.<\/em>
\n\u2022\tWrite down what you make and spend in a month
\n\u2022\tLook at where your money goes
\n\u2022\tLook for ways to save money
\n\u2022 Step #2: Call the companies where you owe money.<\/em>
\n\u2022\tExplain why you have trouble paying the bill
\n\u2022\tAsk for a plan to let you pay less each month
\n\u2022 Step #3: Get help from a credit counselor.<\/em><\/p>\n
\nLook for a credit counselor who will meet you in-person. Then ask questions. These questions will help you select a counselor:
\n\u2022\t\u2022 What can you do to help me?
\n\u2022\t\u2022 How much will I have to pay?
\n\u2022\t\u2022 Do you have free education and information?
\n\u2022\t\u2022 Are you licensed to work in my territory and\/or state?
\nLook for a credit counselor who can do the most for you. You might have to pay some money for help. But a good credit counselor will not ask you to pay in advance.<\/p>\n
\n\u2022 When you talk to a debt collector:<\/em>
\n\u2022\tKeep a notebook by your phone or with you.
\n\u2022\tAsk: What is your name, company, address, and phone number? Write the answers. Write the date and time you talked.
\n\u2022\tSay: I will only talk when I get the written validation notice.
\n\u2022\tIf the collector threatens you or uses bad language, hang up. He or she is breaking the law.
\n\u2022\tYou can file a complaint about a debt collector by calling the Federal Trade Commission at 1-877-382-4357.<\/p>\n
\n\u2022\tSee if you recognize the debt. The notice should list the \u201ccreditor.\u201d The creditor is the person you owe money to. You can call the creditor to get more information.
\n\u2022\tIf you do not think the debt is yours, follow the instructions in the notice. It should tell you what to do next to question the debt.
\n\u2022\tIf the debt is yours, make a plan for how to pay it. Talk to a credit counselor.<\/p>\n
\n\u2022\tWrite a letter to the debt collector. Tell him or her to stop calling you immediately. Send the letter by Certified Mail and ask for a \u201creturn receipt.\u201d The law says he or she must stop calling you when he or she gets your request in writing.
\n\u2022\tIf that debt collector still calls, file a complaint. Call the Federal Trade Commission at 1-877-382-4357.<\/p>\n
\nWe cannot act as your private attorney. If you need legal assistance, we will recommend that you contact a private attorney or legal aid organization. We cannot give legal advice or act as your private attorney. Michael J. Cyganek (Consumer Counsel, Office of the Attorney General)<\/strong><\/p>\n