Fair Debt Collection Act, how can it help you
If you have trouble paying your bills then your creditors may well send somebody from a debt collection service to try and get the money from you. The Federal Trade Commission which is the nations consumer protection agency helps to enforce the fair debt collection act . This agency will ensure that debt collectors cannot use abusive, unfair and deceptive practices in trying to collect the debt from you. Collection agency laws will ensure that debt collectors follow a code of conduct and also give you the chance to sue these people if they do break the law.
So what debts does this act cover?
This act covers the following debts, personal, family and household debts. It does not cover any business debts that you may have incurred.
If you receive a debt collection letter or a phone call from somebody trying to collect the debt it is advisable to speak to or contact them at least once to try and come to an agreeable debt colection solution. Within five days after they first contact you the debt collection service must provide a written validation notice telling you how much money you owe and who to. They must also give you information on how to proceed if you think that you may not owe any money.
After the initial contact you can request that they do not contact you again.
To do this you need to send them a letter by certified mail, making sure that you keep a copy for your records. You must do this within 30 days after you have received the original validation letter.
Once your letter has been received you may be contacted again but normally it is only for the following.
To state that there will be no further contact
To send you verification of the debt that you owe in writing
To let you know that they or the creditor intend to take further specific action like filing a lawsuit.
Please remember though that this letter will only stop the contact it does not cancel the debt, so you will still have to make arrangements to pay it.
The fair debt collection act is there to protect you from harrassment from any debt collection service, but you are still responsible for the debt and paying it off
To download your full copy of this act just click on the link below
Fair Debt Collection Act
Related articles
