FDCPA - what is it?

The Fair Debt Collection Practices Act (FDCPA for short). What is it?

The purpose of the FDCPA is to provide guidelines for collection agencies trying to collect debts, providing protection and remedies for debtors. The Act applies to personal, family or household debt (including card balances). As for the collectors who applies to, would any person or company engaging inthe activities of debt recovery. This could mean the collection agency, debt buyer unwanted law firm representing the buyer or debt collection agency refuse, or any other person who is regularly trying to collect the debt.

The FDCPA makes it illegal for a collector to threaten any activity that can realistically be achieved or not play. For example, in Pennsylvania, attachment of wages can bethe credit card debt. Therefore, it would be illegal for a collector of a threat to the seizure of wages because the PA can not really carry out the threat.

The FDCPA also regulates that a collector may contact you regarding your debt. First, if the debt collector must have an attorney, the collector can contact your lawyer (and you) of its debt. In general, the collector may not communicate with anyone else(Including family members, friends, neighbors and employers) with respect to your debt. There is one exception to this rule. A debt collector may communicate with family, friends or neighbors if you have a good faith effort to find, but you can not find. In this case, the collector may contact others to find the address and contact details. The collector may not, under any circumstances, discuss your debt with these people.

Within five days after the firstcontact the collector must do several things. One should tell the amount of debt that is allegedly owed. Two, you must report the name of the creditor (person or company to whom the debt is owed). Three, should be advised that if no dispute the debt within 30 days to assume that a valid debt. Fourthly, they should know that when you request it in writing to show respect for the original namecreditor, if it is other than the debtor in progress.

The Fair Debt Collection Practices Act also provides the opportunity to sue if the debt collector violates one of the mandates of the law. If there is a violation, you may be entitled to a maximum of $ 1,000 in statutory damages, more damage and damages the support of the actual violation. Moreover, and this is great, this law is allowed to recover legal costs spent infiled a lawsuit against the debt collector. In this sense, it ends up being able to follow a debt collector for violating the FDCPA for free.