Debt refers to an obligation to pay or to do something for someone
. Several factors may result in this. These factors can result in indebtedness of a person singly or in a combined manner. These factors include:
Decrease in income of a person
Sudden increase in medical expenditure
Divorce related expenditure, alimony, child support
Absence of habit to save
Poor manner in which financial goals are communicated
Most citizens are unaware about different sections of law leave aside the impact of debt law and settlement law on their lives. The settlement laws create a circumstance where your creditors are able to get the money back. This of course is done maintaining a legal procedure.
A person who is severely affected by this should take assistance from an expert debt lawyer. He is the person who is going to be of greatest help to you. As creditors use several techniques to squeeze the money out of debtors, the government has taken several steps to protect the debtors. This of course is done without curbing the interest of the creditors. As a result, the Fair Debt Collection Practices Act came into being. This act was added to the Consumer Protection Act in 1978.
The fair debt collection law addresses the prevention of deceptive and abusive practices related to the collection. The previously mentioned act includes:
Acceptable time to contact a debtor in regard to repayment by a creditor or an agency hired by the creditor to work on his behalf
As per this act a consumer cant be contacted by a creditor or his hired agency, if the debtor has already stated inability for repayment. This condition holds true in case the debtor has refused to accept any communication from creditors.
Calling a debtor repeatedly, ringing his phone or door bell repeatedly with the intension of annoying the debtor is prohibited under the Fair Debt Collection Act.
The creditors cannot publish the names and addresses of the debtors in any bad debt list, etc.
These are just few of the several guidelines that need to be covered under the fair debt collection act. There are certain non-legal aspects that should be taken care of while dealing with the problem. All correspondence should be done in writing. This results in creation of documentary evidence.
The aforesaid law is applicable in Florida too. In case you are a victim of abusive and deceptive creditors, contact a Florida debt lawyer. This is because preparing and going through debt settlement is a step by step process.
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