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Debt Collection Act helps to fight illegitimate debt collectors

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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The Fair Debt Collection Practices Act Simplified:...
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The Fair Debt Collection Practices Act Simplified: A Primer on the Law

A simplified version of FDCPA

But this does not apply to the original creditor, just debt collector or CA, right? What happens if the creditor is not following these rules? Who should I report them to?

Sub: #1 posted on Mon, 02/12/2007 - 19:37

lrhall41 lrhall41

(Posts: 245 | Credits: )

Original creditors are exempt.Look at your state laws.Another place to look is fair credit reporting act.This law governs how they report on your credit bureaus.

Sub: #2 posted on Mon, 02/12/2007 - 19:41

cajunbulldog cajunbulldog
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I will do that. Thanks.

Sub: #3 posted on Mon, 02/12/2007 - 19:44

lrhall41 lrhall41

(Posts: 245 | Credits: )

cajun, Great information. Something that everyone should be aware of their rights. Thanks for all your hard work. KYSIDE38

Sub: #4 posted on Mon, 02/12/2007 - 19:50


(Posts: 2477 | Credits: )

:D I have a bunch of this info,still learning rules on size of post,attachments,etc. :oops: I'll get some more once I figure it out!

Sub: #5 posted on Mon, 02/12/2007 - 19:55

cajunbulldog cajunbulldog
(Posts: 4850 | Credits: )

Thanks for the sticky, Mike.

Sub: #6 posted on Tue, 02/13/2007 - 12:43

cajunbulldog cajunbulldog
(Posts: 4850 | Credits: )

You are welcome, cajun :)

The technical problem in the website is keeping me very busy for the moment. I am sorry that I didn't post earlier that your topic is included in the special topics of the "Dealing with Collection Agency" forum.

Thanks for your hard work


Sub: #7 posted on Tue, 02/13/2007 - 12:53

Mike Mike

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Thank you cajun & Mike!

Sub: #8 posted on Tue, 02/13/2007 - 15:18

(Posts: 4583 | Credits: )

Thanks for posting this.

Sub: #9 posted on Wed, 02/14/2007 - 05:27

Cow & Chicken Cow & Chicken

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This website is part of the FTC
It has loads of information relating to consumer scams and ID Theft.

Sub: #10 posted on Thu, 04/05/2007 - 08:04

sswett sswett

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