1. If you spend more than 50% of your credit limit every month, this indicates to the Credit Bureau that you do NOT have enough cash on hand to meet your monthly expenses. This will identify you as a high credit risk and will actually reduce your credit score by 60 - 70 points overnight (Fair Isaac).

2. If you miss 1 or 2 payments on your credit card debt, the issuing company will skyrocket your interest rate to a whopping 27% - 30%!

3. Out of a random sample of 3 million American consumers (included in Experian's National Score Index), 51% of them have at least 2 credit cards and 14% of them have 10 or more credit cards.

Stop Calling Me Letter to Harassing Debt Companies

Some debt companies will stress you out by calling you at home, at work or anywhere else to demand payment for any debts owed. According to the Fair Debt Collection Practices Act however, you have rights! Under the section [15 USC 1692c] Section 805(c): CEASING COMMUNICATION:

"If a consumer notifies a debt collector in writing that the consumer refuses to pay a debt or that the consumer wishes the debt collector to cease further communication with the consumer, the debt collector shall not communicate further with the consumer with respect to such debt"

We therefore provide you with a sample of this Stop Calling Me letter. Click here to get an MS Word format version of this letter. A .doc file will open up and save it to your Desktop. This way you can easily retrieve the file.

Your Name
Your Address

Lender's Name
Lender's Address

Mr/Mrs. Debt Collector,

I am responding to your constant harassing phone calls to my home and my workplace. I find your phone calls very stressful and therefore demand that you stop calling me as of NOW! According to the Fair Debt Collection Practices Act, [15 USC 1692c] Section 805(c): CEASING COMMUNICATION:, you must STOP all communication with me after having received this letter.

This letter is my official warning to you to stop calling me! You can only call me under 2 circumstances now:

You're ending any more collection efforts of debt owed
You're taking a specific course of action against me

If you call me at any time after having received this letter, you will be violating MY rights under the 805(b)2 of the Fair Debt Collection Practices Act. You should know that I will be taping any more phone calls received from you and report you to the Federal Trade Commission and to my State Attorney General. If I receive a harassing debt collection phone call from you, remember you can be charged up to $1000 per every harassing phone call. Please also know that I am willing to take any necessary legal action to protect my rights as a consumer.

(Your Signature)
(Your Printed Name)