Clear and complete information: From the first contact with a collection agency, you have the right to know:

The name and contact information of the collection agency or financial institution.

Details about the debt, including the amount owed and the calculation date.

Conditions for settling the debt.

Information about the administrative unit of the financial institution to file complaints about bad collection practices.

Contact hours: Debt collectors should limit their calls to morning and afternoon hours. They should not bother you with late-night calls.

Respectful treatment: Debt collectors should communicate in a polite and respectful manner. They should not harass or threaten you.

Written documentation: If the debt collector is a Collection Agency, it must document in writing any payment agreement. This includes the amount to be paid, with a breakdown of interest and other costs due under the contract.

Right to privacy: Debt collectors may not:

Post collection signs on your door.

Investigate places you frequent to harass you psychologically.

Statute of limitations on debts: Actions arising from credit agreements expire five years from the date of the debtor's last acknowledgment of the obligation.

Remember that, although you have debts, you also have rights. If you face abusive or illegal situations by debt collectors, you can seek legal advice and file complaints with the competent authorities.

Translated by: A.M