What Debts Are Covered Under The Fair Debt Collection Practices Act

The Fair Debt Collection Practices Act stipulates the actions creditors and debt collectors can legally take when you stop making your payments

. The FDCPA covers all types of debts, including household debts, family debts, and personal debts. Typical debts covered under this act include mortgages, medical bills, auto loans, and credit card accounts.

Under the FDCPA, debt collectors can only contact you during the hours between 8 a.m. and 9 p.m., and they cannot contact you at work unless you give your permission. Debt collectors cannot continue to contact you if you request that they stop in writing. However, they can still file a lawsuit against you for the debt and try to collect through wage garnishment.

The act does not prohibit debt collectors from calling third parties, such as you family, friends, or employer, to inquire about your whereabouts. However, they can only ask for your place of employment, phone number, and address. They cannot tell third parties anything about your debt, nor can they contact the same third party more than one time. Furthermore, if you have an attorney who is representing you with regard to the debt, the debt collector must contact the attorney instead of you.

Under the FDCPA, debt collectors have five days from the time they first contact you to send you a notice that informs you of your debt in writing. The letter must state how much you owe, the name of the creditor, and how you must proceed if you believe the accusation is false.

Debt collectors are not allowed to harass you or make threats of violence, nor can they use profanity. Debt collectors must tell you the truth. They cannot claim to be able to take impossible actions, such as placing you under arrest. Furthermore, the FDCPA prohibits debt collectors from trying to collect more than what you originally owed. Debt collectors cannot add late fees or interest unless there are provisions for such charges in your original contract.

If you want to learn more about the FDCPA, or if you would like help getting relief from your creditors, visit CreditNowUSA today.

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

by: Money Lender

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