Fair Debt Collection Practices Act – Know Your Rights
Learn how to stop debt collectors from harassing you
, by understanding the debt collection fair practices act and protect yourself from abusive collection practices. These are the top five things you should know about debt collection fair practices and when to know when a debt collector is overstepping the law.
Debt collectors are not allowed to call just anytime they please. They are restricted to calling about a debt from the hours of 8 am to 9 pm and local time. Debt collectors may not repeatedly call a number as harassment. Debt collectors may not call at a person's place of work if they have been notified it is unacceptable to the employer this is part of the debt collection fair practices law.
Debt collectors may give their name and in fact must give their name to the person they are contacting in an attempt to collect a debt, however they may not state their purpose in calling to any other party besides the person from whom they are attempting to collect the debt. This is required so the person from whom they are collecting is not bullied by threats of public exposure or embarrassment. There are penalties for violating a person's privacy when collecting a debt that are part of the debt collection fair practices act.
Debt collectors must include an insert in their first mailed communication no more than five days from the time they make initial contact. This insert is a form where the person from whom they are collecting may request verification of the debt and may also dispute the debt. Verification of the debt must be provided within 30 days of the request or they must stop attempting to collect the debt.
Debt collectors can be informed in writing that the person from whom they are attempting to collect have no intention of paying the debt and wants no further communication from the bill collector. The debt collector is permitted to contact the individual once more to inform them they will cease attempts and also inform them of any other action they may take such as a lawsuit.
Debt collection fair practices span far more than just this brief overview however, in the end most people actually do want to resolve their debt and to resume a normal life. Today though in this economy with credit card rates sky high it may seem impossible to the person in debt. There are however, solutions, which may be individualized, and can not only stop creditors from calling but also help salvage a person's credit and peace of mind. The debt collection fair practices act helps stop the collectors from being abusive and credit solutions can restore normalcy.
Fair Debt Collection Practices Act Know Your Rights
By: archerfraizer
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