What Is the Fair Debt Collection Practices Act (FDCPA)?
The Fair Debt Collection Practices Act (FDCPA) is a federal law that limits the actions of third-party debt collectors who are attempting to collect debts on behalf of another person or entity. The law restricts the ways that collectors can contact debtors, as well as the time of day and number of times that contact can be made.
Since its inception in 1978, the Fair Debt Collection Practices Act (FDCPA), was designed to eliminate abusive, deceptive, and unfair debt collection practices. It is important to underline that the federal law also protects reputable debt collectors from unfair competition and encourages consistent state action to protect consumers from abuses in debt collection.
Some of the most common violations of the FDCPA are:
- Calling Continuously or within restricted times
- Lying about the Original Amount Owed
- Contacting Third Parties Connected to the Debtor
- Not Identifying Themselves
- Refusing to Validate the Debt
- Making Threats or harass
- Not complying with Cease of a Communication procedure
Tutelary Financial Services Corp. along with all other debt collection agencies that respect and uphold federal regulations, encourage you to take action if a debt collector has violated federal law in its dealings with you.
Consumers do have options to report collections agencies who violate the FDCPA. The Consumer Financial Protection Bureau was created to help enforce laws such as the FDCPA. Individuals can submit a complaint on the CFPB website. The Federal Trade Commission protects consumer from unfair or fraudulent business practices and accepts consumer complaints. Debtors also have the option of contacting their state attorney general’s office. You may also choose to bring a lawsuit against the debt collector in state court or small court.
Learn more about the FDCPA:
References:
www.investopedia.com/terms/f/fair-debt-collection-practices-act-fdcpa.asp