This chapter will explain the laws governing the collection agencies and will explain what they are and are not allowed to do.
Additionally, you will learn what you can do to help deal effectively with the credit agencies. Additional tips for lowering your debt can be found in the supplement eBook provided with this package.
The FDCPA – What It Is and How It Impacts You
The Fair Debt Collection Practices Act (also known as the FDCPA) is a law that helps protect you from collection agency harassment.
This law was created because the government realized that many collection agencies were harassing and threatening people in order to obtain a payment.
In order to stop the harassment, the government created the FDCPA to help protect you.
While this act will help against the collection agencies, it is not a guaranteed safe-guard against harassment.
According to the FDCPA, all third party collection agencies must notify you in writing about your debt within five working days of contacting you on the telephone.
Additionally, the FDCPA allows you a wide variety of rights for dealing with the collection agencies. This chapter will discuss different portions of the Fair Debt Collection Practices Act and what they mean to you.
QUOTE FROM THE FDCPA
What does it mean?
This section states that the FDCPA was written to eliminate the abuse that some debt collectors have inflicted on innocent citizens in the past.
QUOTE FROM THE FDCPA
What does it mean?
The above section declares that the collection agency may not use or threaten to use violence or any other illegal behaviors. Additionally, they must not use obscene language at any point.
QUOTE FROM THE FDCPA
What does it mean?
Additionally, the collection agency must not call you over and over again simply to annoy you or harass you with the intent of getting you to pay quicker.
QUOTE FROM THE FDCPA
What does it mean?
This section lets you know that the collection agencies must always identify themselves and may not call you more than once without a good reason.