Debt Collection Act helps to fight illegitimate debt collectors

By Good Nelly

Ask Nelly

At every step in life you will come across rules and regulations that protect your rights and also define your limitations. Rights and responsibilities are just the opposite sides of the same coin. There is an inseparable connection between the two. Debt collection also follows certain rights and responsibilities as given by the law.

• What exactly are the rules concerning debt, debtors and debt collectors?
• What control do you have over payment of debts?
• What is Fair Debt Collection Practices Act?

You are a debtor if you are involved in any of these acts:

• You use credit cards.
• You owe money on a personal loan.
• You are paying for your home mortgage.

A debt collector is one who collects payments towards debt from a person who is under serious debt related problems. It can be any individual, a company or agency or even solicitors and attorneys other than the creditor himself. These people regularly collect debts on behalf of the creditors to whom you owe the loan. If you are unable to pay off your creditor the right amount at the right time or if there are some errors in your account book, the debt collectors contact you. They cannot impose any act on you because under all situations the Fair Debt Collection Practices Act is there to protect you. Under this Act, debt collectors are bound to treat you fairly prohibiting certain methods of harassment that goes against the law. Even if these laws protect you, they cannot help you get rid off your total debt.

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