The rules of debt collection

Here are some hints, under the Fair Debt Collection Practices Act, courtesy of the U.S. Federal Trade Commission (w w w.f tc.gov):

* A debt collector is allowed to call you only between 8 a.m. and 9 p.m., local time.

* A debt collector MAY NOT contact you at your job if your employer forbids it.

* Have you lawyered up? If so, the debt collector must speak only with your attorney.

Remember, debt collectors are forbidden from threatening you, making false statements or using foul language.

* Who wrote/published the source material?

* Check the date of the article.

* Look out for doctored pictures.

Pause before you print/ share, and make sure what you’re sharing is true and accurate. Of course, there’s a time for a funny parody or a joke, but ensure you’re not representing it as fact, and also make sure it’s not hurtful.

— Becky L. in Arizona

Becky, a company may want to know your record for paying your bills on time, so they pull your credit report or do what is called a “hard inquiry.” A hard inquiry stays on your credit report for about two years; lots of hard inquiries may look like you’re trying to go deep in debt.

So if you’re looking to get a mortgage or a car loan, it’s best to stop applying for consumer credit cards.

P.S. Have you ever gotten a letter stating you’re “prequalified” for a credit card? This means the company has performed a “soft inquiry” on your credit. They’ve gotten a profile of you. This doesn’t guarantee that you will be approved for the card. Soft inquiries don’t impact your credit. Other soft inquiries?

1. You’re checking your own credit.

2. A potential employer may check your credit.

3. Your auto insurance company may check, to establish premiums.

Put each topic in an envelope and donate the envelopes of “free stickers” to a local elementary or middle school. The teachers can use the stickers as rewards on student papers! — Rita P., North Canton, Ohio

Send a money-saving or timesaving hint to Heloise, P.O. Box 795001, San Antonio, TX 78279-5001, or you can fax it to 1-210-HELOISE or email it to Heloise@Heloise.com. I can’t answer your letter personally but will use the best hints received in my column.

Write to Heloise at P.O. Box 795001, San Antonio, TX 78279-5000; Fax 210-HELOISE; or email Heloise@Heloise.com.