Atlantic Recovery Solutions LLC, contacting you for debt repayment? Know your Rights and Responsibilities
If you are receiving calls from a representative of Atlantic Recovery Solutions, following up on your debt repayment, it is natural for you to think of this as a form of disturbance or even harassment. It is very important for you to understand what your rights and responsibilities are and what Atlantic Recovery Solutions can and can’t do. Here are some questions that may pop up and their answers that may help you decide on your next course of action.
Who is Atlantic Recovery Solutions?
Atlantic Recovery Solutions is a registered and reputed debt recovery agency which undertakes various types of loan and debt recovery assignments from their clients. Their debt recoveries cover retail loans, credit card debts, auto loans, business debts and many more. Their services involve sending recovery letters, making phone calls, negotiating repayment terms and liaising with government and legal agencies for taking actions to recover the outstanding debts of their clients.
Why are Atlantic Recovery Solutions representatives calling you?
If you are being contacted by this debt recovery agency, it means that it is regarding a business matter where you have been listed as an individual or businesses which has taken a loan or owe a debt. It is also possible that you have been listed as a guarantor for a loan or debt.
What are your rights under the FDCPA?
The Fair Debt Collection Practices Act (FDCPA) is a consumer protection law which outlines the activities that the debt collection agencies can carry out without infringing the rights of the debtor. FDCPA deems some of the debt collection activities as illegal, such as:
Does Atlantic Recovery Solutions abide by FDCPA regulations?
Every team member at Atlantic Recovery Solutions has passed the FDCPA exam, which ensures that they are compliant to the FDCPA regulations at all times. While debt recovery is an unpleasant situation for all involved parties, the Atlantic Recovery Solutions ensures that it’s representatives follow the FDCPA at all times. This is very important since infringing upon the FDCPA guidelines can mean a lawsuit for them.
What are my options and what should I do?
It is very important for you to understand that the motive for Atlantic Recovery Solutions or any other debt collection agency to contact you is not to harass you. Their goal is to recover the amount that is owed on behalf of their clients. If you speak with the Atlantic Recovery Solutions representatives reasonably and explain your situation, they will help you reach a settlement agreement according to your financial situation.
A last word is to be aware of the lawyers and other middlemen who may make wild promises about making the debt repayment situation go away. They may misinterpret or misrepresent the scope of FDCPA and you might end up worsening your financial situation having lost money in the legal fees.