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Ethics And
Finance - When it comes to ethics and finance, many people get the impression
lately that there are no ethics in finance and other economic areas. However,
while it might seem to people who are working outside of the field that there’s
only room for making money and figuring out how to make more money in the world
of finance, in reality, ethics play a large roll in what you can and can’t do. |
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For example, ethics are used to determine the rules that
govern how debts are dealt with. Ethics had a major part to
play in the Fair Debt Collection Act, and now it’s illegal for
creditors to harass their debtors, no matter how much money
the debtors owe. In fact, if you’re being harassed by your
creditors, then there are now several different things you can
try to do to end the harassment. First, you’re allowed to send
a cease and desist letter to your creditor to ask them to stop
harassing you about the amount of money that you owe – and
this is the case no matter how much you owe. If you write a
cease and desist letter and your creditor does not stop
harassing you, then you can report them to a higher authority
and get the harassment ended that way.
Ethics and finance also govern more than just harassment when
it comes to the way that your creditors contact you. The Fair
Debt Collection Act makes sure that when you are contacted
regarding your debts, it’s required by law that your creditor
tell you exactly how much you owe and all of the different
parts of each debt that you’ll have to pay. It is illegal for
your creditor to tell you one amount, and then change the
amount that you owe as time goes on. If you find that you’re
continually being surprised by extra debt or extra fees on
your debt, then you should definitely get help, since what
your creditors are doing is illegal. |
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While some companies and creditors do not follow the
laws of ethics, ethics and finance go hand-in-hand
when it comes to debts and debt collection. If your
creditor is not behaving ethically, then you should
definitely report them – both to protect your own
finances, and to protect the finances of the other
people who owe money to that particular creditor. |
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