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Fair Debt Collection Practices Act(FDCPA) This outlines what collection agencies CAN & CANNOT do to collect on a debt. This is VERY IMPORTANT and I urge everyone to read up on their rights

Fair Debt Collection Practices Act(FDCPA) This outlines what collection agencies CAN & CANNOT do to collect on a debt. This is VERY IMPORTANT and I urge everyone to read up on their rights. In a nutshell it determines WHO they can contact about a debt owed, WHAT they can and cannot say, WHEN you can be contacted, and HOW you can be contacted. Keep in mind that violations can lead to legal claims against the collection agencies

Debt collection is the process of pursuing payments of debts owed by individuals or businesses. An organization that specializes in debt collection is known as a collection agency or debt collector.

Debt collection is the process of pursuing payments of debts owed by individuals or businesses. An organization that specializes in debt collection is known as a collection agency or debt collector Debt collection has been around as long as there has been debt and is older than the history of money itself, as it existed within earlier systems based on bartering.

The Fair Debt Collection Practices Act (FDCPA), Pub. L. 95-109; 91 Stat. 874, codified as 15 .

and and let's get started.

Secured debt is when the bank finance a debt with an asset such as a home loan, motor vehicle or furniture Collections agencies will try to collect

Secured debt is when the bank finance a debt with an asset such as a home loan, motor vehicle or furniture. If you default on payment on a secured debt, there is an asset they could attach. Collections agencies will try to collect. Ultimately you may get sued and any assets you have are attached. Bankruptcy is a way out.

Don't give in to illegal debt collection tactics. More specifically, debts that have been sold or are being collected by a third party collection must fall within the bounds of the Fair Debt Collection Practices Act. Consumer Protections Under the Fair Debt Collection Practices Act.

Key provisions of the Fair Debt Collection Practices Ac.

Allows consumers to seek proof that they owe the money the debt collector wants. Consumer advocates recommend keeping copies of all written correspondence to and from debt collectors as well as sending any letters via certified .