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Fair Debt Collection Practices Act (FDCPA)
The Fair Debt Collection Practices Act (FDCPA) is designed to protect consumers from harassment from debt collectors. In this article we will review what is considered acceptable guidelines for debt collectors according to the Fair Debt Collection Practices Act.
One of the most discouraging things is being in debt. Often, the discouragement associated with being in debt is further compounded by pushy creditors and threatening phone calls. The good news is that you do have protections. While you are not protected against paying the debt that you owe, you do have consumer rights when it comes to what creditors are allowed to do as they try to collect. Your rights are codified in the Fair Debt Collection Practices ACT (FDCPA).
Fair Debt Collection Practices Act
The Fair Debt Collection Practices Act (FDCPA) was enacted to protect consumers from threatening and harassing debt collectors. In most cases, you already know that you owe money – and you may even be trying to figure out what you can do to get back on track. Therefore, having further stress added to your other problems can make things worse.
The FDCPA sets forth what is considered acceptable for debt collectors seeking payment:
It is also important to note that debt collectors have to stop contacting you by phone altogether if you request it writing. If you want the calls and letters to stop, you can write a letter to the debt collectors (it has to be in writing). However, you should be aware that debt collectors can send information related to civil action and continue billing you regularly after your request.
If you are faced with debt collectors who are violating the Fair Debt Collection Practices Act, you need to notify the authorities. These people are breaking the law, and you have recourse, which can involve civil action. Anytime an infraction occurs, record the date, time and phone number of the caller. You should also note the name or identification number of the representative you talk to. If possible, make a recording of conversations that violate the Fair Debt Collection Practices Act.
You should be aware of your rights under the FDCPA. You can find out more by visiting the Web site of the Federal Trade Commission at www.ftc.gov.
Related Article: Understanding Debt >>
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