Collection Practices What The Fdcpa Is

In 1978, in order to establish guidelines for debt collectors and to prevent abusive

debt collection practices, Congress passed the Fair Debt Collection Practices Act commonly referred to as the FDCPA. The Act applies only to consumer debt incurred by individuals for their personal or family use. It does not apply to businesses or debts incurred by individuals on behalf of their businesses. Through the years, the Act has been amended several times.

The FDCPA distinguishes a debt collector from a creditor. The creditor is who the debt is owed to. The debt collector is a person or company that regularly tries to collect debts on behalf of creditors.

The FDCPA establishes exactly what collection practices can be used by debt collectors. This includes the hours that telephone calls can be made to the debtor, what the debt collectors may say and how they say it in the attempt to collect the debt. The FDCPA contains an itemized list of prohibited conduct as well as a list of conduct that is required. You can also find that list at CreditNowUSA.

The FDCPA provides a way for debtors to dispute the debt by claiming they dont owe the debt. Debt collectors also must provide documentation of the validity of the debt.

The FDCPA is enforced by the Federal Trade Commission and there are stiff penalties for debt collectors who violate the collection practices. If you are being harassed by debt collectors who you believe have violated the FDCPA, you can report them to the Federal Trade Commission.

In some cases, you may even be able to sue debt collectors in court for damages they caused you. You must be able to prove you suffered an actual loss, such as lost wages or medical bills, and the loss was caused by the illegal collection practices of the debt collector.

CreditNowUSA is knowledgeable about all aspects of the FDCPA. It is ready to help you stop harassing phone calls and obtain relief from unfair and illegal collection practices.

For more information, go to Collection Practices at http://www.creditnowusa.com/Collection-Practices

by: Money Lender

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