You have a big company out here in the American society when it comes to debts. Rest assured there are millions like you immersed in debts. The good news is you also have many debt repayment techniques to free yourself of the debt. There are thousands of debt management companies thriving to help you.

It is important to understand why people get into debts that they cannot repay. American society has countless opportunities to make money. In this country, people start making a living working early in their lives. Once financially independent you get into the temptation of spending. The spending habits are out of control because you are in hold of credit cards that allow you to buy whatever you wish to at the outset.

Little do you remember at that time that you need to repay. The small minimum repayment balance often tempts you to consider buying what you cannot afford. If you were to buy an expensive Television set with a credit card repayment of $45.00 per month, it seems a very easy option to living without that Television set.

This Television set may lead to some expensive gifts for Christmas and then a trip to Bahamas for holidays. After a point of time it becomes impossible for you to stop and before you realize you are completely in a debt trap.

A credit card is a curse when it comes to the spending habits of individuals in our country. Approximately half of the credit card holders in America pay only the minimum monthly payment. Only a very few actually repay the credit card bills on time. If you can get over the temptation of buying with plastic money you can redeem yourself from debts.

If you have decided to absolve yourself from debt the first step is to write down your income and expenses. Where possible you may cut down the expenses by marking them unnecessary. You may budget the number of times you are eating out, the expensive cosmetics, the jewelry and the clothes that you buy etc. Expenses like college fee or medicines cannot be budgeted. Now budget your expenses to match your income and write down how much you can save.

The extra savings that you accrue now can be used for debt repayment. Of course the savings may seem very little at first but a persistent effort from you can do magic to the savings pile. In a month or two you will realize that you were actually not spending your money wisely that led you to the debt in the first place.

Once you have started saving and started using that money to clear your debts, it is easier to fall into the habit of saving similarly even after the debt is completely repaid. This habit will ensure you don't over spend anymore.

It is unpleasant to take calls from debt collectors. Quite often you don't want to speak to them. You can't avoid paying them if you have spent all those dollars through credit cards. If the debt is genuine it is better to pay up. However, even if you owe the debt you are protected against debt collector's harassment .

Let us understand debt collection harassment. A debt collection agency (third party) is retained by original creditors (first party), credit card companies or banks for example, to collect a debt from you which they failed to collect. Debt collection agencies (third party) can even be companies that bought the debt from original creditors (first party) and are intent on collecting the payments from debtors (second party). Debt collectors do not have the right to harass you for the money. The Federal Trade Commission (FTC) has enforced certain guidelines for fair debt collection in the Fair Debt Collection Practices Act (FDCPA).

The FDCPA requires debt collectors to follow basic rules to collect debts from consumers.

A recent case of debt collection harassment in Dallas was resolved by the jury awarding the consumer $1.5 million for punitive damages and $50.000.00 for mental anguish against constant debt collector harassment for a paltry amount of $200.00. The collectors left obscene and racial comments on the voice mail box of the consumer. The objectionable messages were used as proof of harassment and the Dallas County Jury passed judgment in the consumer's favor.

If not for these recorded voice messages, the case could not have stood the trial.

It is pertinent to note that if you know your debt collection rights you would not be harassed. A debt collector should not call you at inconvenient times, or repeatedly or speak obscene language. A debt collector should not call your family and friends to seek information about you except for your contact coordinates. Debt collectors should not call at your place of employment knowing you or your employer would not approve it. Debt collectors should not resort to abusive or racial comments that can hurt the sentiments of consumers.

You can stop the menacing calls by writing to the debt collectors. A letter requesting the debt collectors to stop calls and validate debt through a certified mail is a powerful weapon you should use to keep the calls away. Although this does not absolve you of the debt it will stop the unpleasant harassment. Not knowing this simple technique has led many harassed consumers to consider serious actions like suicide. Some consumers end up as medical wrecks.

Debt collection has taken ugly turn with the debt collectors violating the FDCPA. To ensure you are not a victim of debt collection harassment, know your rights in the FDCPA.