Debt Views

The Fair Debt Collection Practices Act (FDCPA) was written in order to protect consumers against improper collections practices. If you are facing financial problems that might have you dealing with collection agencies and debt collectors, it is extremely important that you know your rights as well as the boundaries of others.

Here is a list of the point that are of most interest to consumers:

1. Harassment: Collectors are prohibited from harassing the debtor or any other third party with which they have contact. Examples of harassment include threats of violence, publishing lists of bad debtors (with the exception of reporting them to credit bureaus), profane or insulting language, and using the telephone to annoy.

2. False Statements: Collectors are prohibited from using false or misleading information or statements when attempting to collect a debt. Such statements include false claims that they are attorneys, government representatives, credit bureau representatives, imply that not paying a debt is a crime, misrepresent the outstanding balance of your debt, claim that papers you received were legal documents when they were not, or threaten any form of legal action if they do not intent to do so.

3. Threaten Legal Action Unless They intend to Do So, And it is Legal: A debt collector may not claim that you will be arrested for not paying debts. They are also prohibited from stating that they will garnish wages and/or seize or place a lien on any property unless they truly intend to do so, and it is legal to do so. It is also illegal for them to state that legal actions, such as lawsuits, will be taken unless it is legal or if they do not intend to take such action.

4. Give False Information: Collectors may not give false information to credit bureaus, nor may they send you anything that looks like an official court or government document when it is not, nor can they use a false name.

5. Unfair Practices: Debt Collectors may not employ any unfair practice when collecting a debt. This includes such examples as collecting any amount greater than your debt unless permitted by state regulations, deposit a post-dated check before the date on the check, use dishonest to trick you into accepting collect calls or paying for telegrams, take or threaten to take property unless it is legal, or contact you via postcard.

6. Abuse Contact Techniques: A collector may not attempt to contact a debtor at inconvenient times of the day, and it shall be assumed a collector may only attempt contact between the hours of 8 a.m. and 9 p.m. He is also prohibited from contacting a debtor at his place of employment if the collector knows or has reason to know that the employer does not allow such communications in the workplace. When contacting third parties in an effort to locate debtors, collectors may in no way mention the debt or that the contact is in regard to the collection of a debt.

7. Correct Identification: A creditor must state that he is a debt collector and that he is attempting to collect a debt.

Please take a moment to review these regulations so that you can be more informed about your rights as a debtor. Also, if you are finding yourself in a financial situation requiring you to learn about your rights as a debtor, this might be a sign that you should seek some form of professional help. An expert may be able to give more insight into you personal situation and help you organize a plan to achieve financial independence.