Fair Debt Collection Applies To Everyone
The Fair Debt Collection Law was passed in America September 3. 1996. Previously known as the Consumer Protection Act (15 U.S.C 1601 et seq), this amended public law was passed to give consumers greater protection against unfair collection practices.
The Federal Trade Commission Bureau of Consumer Protection or the FTC as it is more commonly known is the governing body that monitors practices of all Collection Agents and Agencies. When a Consumer believes they are being harassed or intimidated by a Collector, they are entitled under the Fair Debt Collection Law to file a complaint with the FTC. The Federal Trade Commission examines each and every complaint received and determines whether or not a Consumer has been unfairly treated by a Collector.
Fair Debt Collection Law applies to everyone involved in Collections. While Collection Agents are often more schooled in fair debt collection, many private individuals seeking to collect on an unpaid personal debt are not. The responsibility of everyone involved in doing collections is the same they must adhere to the law.
Fair Debt Collection Law covers much ground. It outlines how a debtor may be contacted, when they may be contacted, what debts may or may not be collected on, and how they are to be treated by a Collector. For example, a Collector may not under the Fair Debt Collections Act, collect more than the debt is worth or intimidate a debtor in any way shape or form. A Collector may not contact a debtor multiple times in one day, or try and collect a debt outside of normal business hours.
Any individual or business owner who feels they are being unfairly treated by a Collector, is entitled to file a complaint with the Federal Trade Commission Bureau of Consumer Protection.
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