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Fair Debt Collection Act Article
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Fair Debt Collection Practices: What to Expect from your Debt Collector?
The best way to protect yourself from harassment is to know the exact job description of your debt collector. If you know the things that his job entitles him to do, you can keep better track of his behavior and take action when he violates your rights. To know the debt collector’s job description, you need to have a thorough understanding of the 1977 Fair Debt Collection Practices Act. This act literally outlines the Fair Debt Collection Practices. It tells you the practices that are acceptable for debt collectors. It also informs you of practices that are unacceptable under the eyes of the law.
So, according to the Fair Debt Collection Practices, what are the debt collector’s responsibilities towards you?
Basically, the debt collector owes you information. If the debt collector is trying to get you to pay up, it is only right that you are fully informed of the circumstances surrounding your debt. This means that within five days of initial contact, the debt collector must send you a written document that contains information such as the amount of debt you owe and the company or institution you owe it to. The document should also let you know the steps to take in the event that you believe you do not have that debt and you should not be held responsible for it.
If you file a letter to dispute the debt, the debt collector will stop contacting you until he comes up with evidence that proves that you truly owe that money. As part of the Fair Debt Collection Practices, the debt collector must send you a receipt to prove that he has received your complaint. Also, the debt collector has to mail any evidence that proves that you are responsible for the debt.
Fair Debt Collection Practices are aimed at protecting the debtor’s privacy. As such, if you wish to put a stop to the debt collector’s calls and visits, you must write a letter to indicate your intention. Once the debt collector confirms receipt of your letter, you can expect him to stop contacting you.
Aside from these things, the Fair Debt Collection Practices also forbid your debt collector to do the following:
1) Contact you via phone or make personal visits outside of the time period between 8:00 am and 9:00 pm.
2) Approach your family and friends in an effort to locate you.
3) Come to your workplace for the purpose of contacting you, verifying your employment or acquiring information regarding your salary.
Fair Debt Practices are exactly that – fair. It means that while you have individual rights, the law also provides guidelines to ensure that the debt collector can do his job well.
Fair Debt Collection Act Specific links
Fair Debt Collection Act News
Fair Debt Collection Reform Bill Re-Introduced by Barney Frank - InsideARM
 InsideARM | Fair Debt Collection Reform Bill Re-Introduced by Barney Frank InsideARM Thursday introduced another bill that would amend the Fair Debt Collection Practices Act (FDCPA) to specifically exempt debt collectors from liability when using approved language in voice mails and messages. The bill's (HR 5794) purpose, as officially ... |
FTC settles with debt collectors over bogus magazine payments - Chicago Tribune
 The Consumerist (blog) | FTC settles with debt collectors over bogus magazine payments Chicago Tribune According to the FTC's complaint, the defendants, who handle collection of hundreds of thousands of accounts each year, violated the FTC Act, the Fair Debt Collection Practices Act and the Telemarketing Sales Rule. The complaint also alleges that the ... Luebke Baker & Associates, FTC Settle For Collecting On Fake Debts Fake debt scam surfaces in Upson County Know your rights when dealing with a debt collector |
Online Payday Advances Launches Lending Policy Article - DigitalJournal.com (press release)
 Deseret News | Online Payday Advances Launches Lending Policy Article DigitalJournal.com (press release) These include the Truth in Lending Act, which prevents loan lenders from hiding details such as late fees and interest rates, and the Fair Debt Collection Practices Act, which prohibits dishonesty or harassment on behalf of debt collectors during the ... 24HourPaydayLoan.com Unveils Lending Policy Article Faxless Payday Loan Launches New Lending Policy Material GetCashToday.com Offers Up New Lending Policy Resource |
Mike Ginsberg: First Quarter ARM Legal, Legislative and Regulatory Climate ... - InsideARM
 InsideARM | Mike Ginsberg: First Quarter ARM Legal, Legislative and Regulatory Climate ... InsideARM Barney Frank introduced HR 4101, The Fair Debt Collection Practices Clarification Act of 2012. This bill seeks to amend the Fair Debt Collection Practices Act to exempt a debt collector from liability when leaving certain voice mail messages for a ... |
Bad News for Most Debt Collectors and Good News for Consumers - Huffington Post
 InsideARM | Bad News for Most Debt Collectors and Good News for Consumers Huffington Post Also in 1978, Congress enacted a debt-collection law known as the FDCPA, or "Fair Debt Collection Practices Act," which we're still working under today, 34 years later. Hemlines have changed a zillion times since then, but our debt-collection laws have ... How to Protect Yourself From Criminal Debt Collectors |