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Defending yourself from debt collectors’ abuse

There is a Fair Debt Collection Practices Act that protects you from Debt Collectors misbehaviors wh

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

en doing their job. For instance, if debt collectors make harassing calls at imprudent hours or lie to you claiming or threatening to do something t

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

ey are not legally entitled to do, you can contact an attorney and take legal action against them in order to cease the illegal practice and get com

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

ensation for damages and any legal fees you may have incurred in.

You need to know how the system works, this way, you will avoid getting nervous o

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

r making mistakes when talking to debt collectors. You should know that no action can be taken against your person if due to hardship you can’t repa

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

your debt. Moreover, even in the event of a bankruptcy, you and your family are protected by law and there are certain possessions that cannot be t

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

ken from you.

Be Prepared for Collector’s Calls and Letters

Keep records of any letter, note or communication sent to you by mail, email or any ot

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

her means. Make sure your telephone company keeps a log of the incoming phone calls, dates and hours. Take note of any suspicious or threatening com

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

ent they make during phone conversations. All this information could be used in court or even in conciliation meetings.

There is an important right

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

you need to be aware of: The right of verification. The Debt Collector needs to be able to verify and prove that you actually owe the money. Otherwi

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

e, he has to stop immediately with the collection process or could be take into court for damages and legal fees. So, whenever a debt collector gets

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

in touch with you, you need to request them to send proof that you owe the money they are claiming before starting any negotiation.

Negotiating

F

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

r Debt Collector Agencies, collecting money from debtors is their business. Most of

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

the time they buy your debt from companies and financial institutions for a lot less money than you actually owe and then, if they get you to pay, t

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

hey make excellent profits.

If you show them you know your rights and you are willing to pay but currently can’t do so, you could give them some op

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

ions to choose from and get a good deal. For example, you can tell them you currently don’t have the money but you would be willing to make small in

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

tallments over a year to cover the debt or you could pay them 60% of the debt altogether but no more than that. They’d probably agree to your propos

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

ition or maybe bargain with you a little more.

As you can see, debt collectors count on your lack of information as regards your rights and legal p

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

otections in order to pursue with collections. If you show you know where you stand, you are in a better position when negotiating. Never ignore the

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

calls, always try to reach an agreement. This way you will avoid reports of delinquencies in your credit history which would lower your credit score

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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