Fair Debt Collection Practices Act

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Fair Debt Collection Practices Act

A federal law designed to curb abuses in the debt collection industry. The law applies to debt collectors, who are defined as persons or companies who collect debts for another. If you owe money to Smith's Marina and Mr. Smith himself or one of his employees contacts you to collect the money owed, that person is not a debt collector under the Act because they are trying to collect money due to themselves, not money due to a third party.

Generally speaking, collectors cannot call you before 8 a.m. or after 9 p.m.They can't threaten you with arrest,bodily harm,or public exposure as a “deadbeat.”They can't imply they are connected with law enforcement.Collectors cannot harass you with repeated phone calls on the same day.They can't call you at work if you tell them you are not allowed to receive such calls at work.

Consumers may sue and collect damages and attorneys'fees for violations of the Fair Debt Collection Practices Act. (It may be found at 15 USC §1601 and subsequent sections.) You must file suit within one year of the violation.

References in periodicals archive ?
That means payments would fall under the federal Fair Debt Collection Act, which hasn't been the case in the past, he said.
If there's even a 20 percent chance we might fall afoul of the Fair Debt Collection Act, then we simply can't risk it," Gardner said.
The legislation, Senate Bill 525, includes collecting restitution for bad checks with the broader practice of collecting debt, and Gardner believes that puts bad check restitution under the Fair Debt Collection Act.
The 31-page request for comment outlines a plan for risk management and all of the consumer protection regulations that credit unions would have to consider as part of any social media effort, including Truth in Savings, Truth in Lending, the Real Estate Settlement Procedures Act and the Fair Debt Collection Act.
A check determined that the real business is not a licensed debt collector; and even if it were, it is clearly violating both the federal and state Fair Debt Collection Act provisions.
Under the Fair Debt Collection Act, the collector must send you a written notice that states how much you owe, the name of the creditor and what action to take if you dispute the claim.
Both panels will focus on recent developments and litigation trends involving the Fair Debt Collection Act and Fair Credit Reporting Act.