The Consumer Protection Credit Act Explained

The Consumer Protection Credit Act Explained

The Consumer Protection Credit Act Explained

Remember that if you have borrowed money from someone, he does have a right to collect what is due. But he doesn't have a right (legally) to harass you in the process. In the past, a creditor could do virtually anything he wanted--short of physical violence--in order to collect a debt, including late night calls, calls at work, and threats of legal action. But since Congress passed the Consumer Credit Protection Act of 1986, consumers have been given legal protection from such actions.

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Who iscontrolled by this act? All persons who r collect debts, such as attorneys, professional collection a and office personnel. The key term here is "regularly." one only collects debts on an irregular basis, he is not i For example, you may owe a debt to your dentist, so he you to collect his money. But he doesn't perform that on a routine basis, so he is not covered by the Consume Act.

When can a collector contact you? At any time durii mal daily routine, for instance between 8:00 A.M. and 6:( creditor may not contact a debtor at inconvenient or times, such as late evening or early morning hours.

Cana collector callyour place of work? Not if you h~ fled him that your employer disapproves of that practice

Can a collector callother people aboutyour debt? i tor may call other people in order to find your current but he may not contact them more than once if you hai torney. Notify him that he can contact only your attorne no circumstances may a collector discuss your debt with person other than your designated attorney or agent.

How canyou stop a collectorfrom harassing you? ing a letter to the collector and stating that he may not you again, except in regard to specific legal action taker_

case. (Obviously this should be done only in extreme cases. If a creditor has no means of communication other than legal action, he will probably take immediate legal action.)

What if you don't believe you owe the money? If you believe that you don't owe the money, you need to write the collector within thirty days after you are contacted for collection, stating that you don't owe the money. If you do that, the debt collector may not contact you again without sending written proof of the debt.

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