Fair Debt Collection Practices Act

What is the Fair Debt Collection Practices Act (FDCPA) and how does it protect you?

It's always good to know your rights in any circumstances. This is even more true when you find yourself on the wrong side of any such circumstance. You could find yourself in a situation where you are unable to pay back a loan, and thereby fall prey to direct or indirect methods of debt collection.

At such times, some collection agencies will try to recover the debt from you in any way they deem fit. But not all of those ways are legal!

You need not feel like the sky has fallen if you are behind on a particular repayment schedule, provided you really mean to pay back what is owed. There is a law that protects you, the indebted, from unethical methods employed by some debt collectors. This law is called the Fair Debt Collection Practices Act, or FDCPA.

This is a great protective tool in your hands when you find that for one reason or another, you are unable to honor your promise to pay back an outstanding debt. The first thing you should do in your defense is to request a debt validation - even if you know and agree that you owe the money. With this step you not only gain 30 days to reorganize yourself, but also you will learn about all the details regarding the debt.

The Fair Debt Collection Practices Act specifies that under the law you are protected from any type of harassment - physical or mental - and therefore whenever you feel that the collection agency or agent has crossed that line, you can sue them. It's ironic that often such people will be the cause of various benefits that result from their prosecution. If and when you sue them, they will become your ticket to monetary compensation.

Disputes and Settlement

The Fair Debt Collection Practices Act is a law designed to protect you from "hungry" and unscrupulous debt collectors. Since this Act has been in place, many people have found relief from undue harassment tactics such as threatening to inform their boss/ friends/ relatives about the outstanding debts, calling at irregular hours, creating a fuss at work or in front of the household or workplace, and the like. In other words, you are protected!

First you need to find out whether the details of the loan and all other matters are accurate as the collection agency related them to you. If these are incorrect, inform your creditor in writing and provide as much documentary proof to sustain your claim as possible. Then ask them to stop calling you.

This means that the company has to cease calling you within one or two days, or earlier. However, this does not mean that the debt has been written off. On the contrary, the creditor will now have the grounds to proceed with legal action against you, if you are not ready to pay and/or have not provided a valid reason as to why you cannot.

The Fair Debt Collection Practices Act is specifically worded and construed with one specific aim - to protect indebted persons trying to recover from a bad financial situation. It's meant to see that you are not driven to emotional and/or emotional ill heath by harassment on the part of the creditor or collection agency, in their zeal to collect on a debt.

The Fair Debt Collection Practices Act is meant to set you free from worry. Use this as a defensive weapon whenever you find yourself cornered by a collection agency. The FDCPA is meant to keep you safe and sound when you are the most vulnerable and helpless. This is how the FDCPA protects you. Never allow yourself be victimized by people or circumstances!

The Fair Debt Collection Practices Act
Don't let debt collectors make your life unbearable. Fight back!