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3 Dangerous FDCPA (Fair Debt Collection Practices Act) Myths
Think you’ve got the FDCPA (Fair Debt Collection Practices Act) figured out? Don’t be so sure. While nothing can take the place of a lawyer’s advice, if you’ve at least overcome these three dangerous myths about the law, you may save yourself a lot...
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Tracking Down Cheap Debt Consolidation Loans
In the modern world of expensive living and high interest rates, it might seem nearly impossible to find cheap debt consolidation loans. If you're one of the people who desperately need one of these loans then there's a good chance that you have...
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The Fair Debt Collection Practices Act
Declaration Of Purpose:
An abundant evidence of the use of abusive, deceptive, and unfair credit collection practices by many debt collectors led to the declaration of the Fair Debt Collection Practices Act. The purpose of the Act, approved in September 1977, was to eliminate abusive debt collection practices by debt collectors and to promote consistent state action to protect consumers against debt collection abuses and invasions of individual privacy.
The Fair Debt Collection Practices Act laid down specific guidelines pertaining to the following procedures:
1. Acquisition Of Information [Sec 804]
Any debt collector seeking to acquire location information of a consumer would identify himself and his purpose correctly and if the need arises also disclose his employer. At no point during the inquiry process shall the collector state or imply that a consumer owes any debt, as this shall amount to invasion of individual privacy. Once the enquiry process has been completed, any correspondence thereafter shall be with the attorney of the said consumer only.
2. Communication With the Consumer [Sec 805]
The debt collector may not communicate with the consumer at any such place or time, which may be known to be inconvenient to the consumer. If the collector has information that an attorney represents the consumer, then any communication with the consumer should be done only if the attorney fails to respond to the collector's communication.
3. Abuse Or Harassment Of The Consumer [Sec 806]
A debt collector may not engage in any conduct the natural consequence of which is to harass, oppress, or abuse any person in connection with the collection of a debt. A collector may not resort
to acts of violence or threats thereof in order to coerce the consumer into obliging to the collector.
4. Misrepresentation For Debt Collection [Sec 807]
A debt collector may not use any false, deceptive, or misleading representation or means in connection with the collection of any debt. The debt collector may not represent or in any way implicate that nonpayment of the debt will result in the arrest or imprisonment of any person or the seizure, attachment or sale of any property of any person unless such action is lawful and the debt collector or creditor intends to take such action.
5. Debt Validation [Sec 809]
Within five days after the initial communication with a consumer, the debt collector shall send the consumer a written notice containing the exact amount of debt, the name of the creditor and the due date of payment.
6. Civil Liability [Sec 813]
Any debt collector who fails to comply with any provision of this act is liable to such person in an amount equal to the extent of actual damage to the consumer and may be liable to pay the consumer the defendant attorney's fees reasonable in relation to the work expended and costs.
The Fair Debt Collection Practices Act provides guidelines for all kinds of debt collection. For all debt collectors, be in-house or collection agencies, it is must to understand the act and stay within the legally permitted boundaries. The Fair Debt Collection Practices Act has enough provisions for collection agencies and departments to help them get the dues from the debtors legally.
About the Author
Free collection agency services information at http://www.collectionagencyservices.net
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| Advertisements Promising Debt Relief May Be Offering Bankruptcy |
| Cautions consumers about ads in newspaper, magazine and telephone directories that offer quick fixes for debt problems. |
| www.ftc.gov |
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| Welcome to Debt Relief International |
| Welcome to the web site of Debt Relief International. |
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| Debt relief steps, your free guide to debt help. |
| Articles on debt relief, and credit management and repair. |
| www.debtsteps.com |
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| Factsheet - Debt Relief Under the Heavily Indebted Poor Countries ... |
| The HIPC Initiative is a comprehensive approach to debt reduction for heavily indebted poor countries pursuing IMF- and World Bank-supported adjustment and ... |
| www.imf.org |
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| Special report: debt relief | Special reports | Guardian Unlimited |
| February 6: A year ago the Guardian set out to track the west's promises of action for Africa on aid, trade, health and debt relief. As G8 finance ministers ... |
| www.guardian.co.uk |
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| Debt Relief Options - Findlaw for the Public - |
| Welcome to Debt Relief Options. This section contains information about the ... To begin, select one of the Debt Relief Options topics from the list below ... |
| bankruptcy.findlaw.com |
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| William Brewer |
| The Brewer Law Firm. William E. Brewer, Jr., Attorney at Law Board Certified Consumer Bankruptcy Specialist. 619 N. Person Street Raleigh, NC 27604 ... |
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| Economic Policy and Debt |
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| www.worldbank.org |
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| Economic Policy and Debt - The Enhanced HIPC Initiative |
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| www.worldbank.org |
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| Debt relief - Wikipedia, the free encyclopedia |
| Debt relief is the partial or total forgiveness of debt, or the slowing or stopping of debt growth, owed by individuals, corporations, or nations. ... |
| en.wikipedia.org |
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| Debt Analyzer, Debt Reduction Software, Home Page |
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| www.debtanalyzer.com |
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| Superior Debt Relief |
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| Debt Relief - Social and Economic Policy - Global Policy Forum |
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| www.globalpolicy.org |
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| www.globalpolicy.org |
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| news.bbc.co.uk |
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| Debt Relief Australia - Start Reducing Debt Today! |
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| www.oxfam.org.uk |
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| What debt relief means for Africa | csmonitor.com |
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| www.csmonitor.com |
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