Difference between revisions of "Fair Debt Collection Practices Act"
(New page: The '''Fair Debt Collection Practices Act''' or FDCPA (15 USC 1692) is a law enacted in 1978 designed to protect consumers against abusive practices by Collection Agencies. In the...) |
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| − | The '''Fair Debt Collection Practices Act''' or FDCPA (15 USC 1692) is a law enacted in 1978 designed to protect [[consumer]]s against abusive practices by [[Collection Agencies]]. In the event that a consumer defaults on a [[debt]] and that debt is transferred to a collection agency not owned by the original [[credit]]or, the FDCPA governs the rights a consumer has in dealing with the agency. The Act prevents collection agencies from contacting the consumer at an inconvenient time or place, use harassing or threatening language unless the collector actually intends to follow through ( | + | The '''Fair Debt Collection Practices Act''' or FDCPA (15 USC 1692) is a law enacted in 1978 designed to protect [[consumer]]s against abusive practices by [[Collection Agencies]]. In the event that a consumer defaults on a [[debt]] and that debt is transferred to a collection agency not owned by the original [[credit]]or, the FDCPA governs the rights a consumer has in dealing with the agency. The Act prevents collection agencies from contacting the consumer at an inconvenient time or place, use harassing or threatening language unless the collector actually intends to follow through (e.g. threatening to file suit but having no intention of doing so), and allows the consumer the right to dispute the validity of the debt. The FDCPA provides that when a collector violates the law that the consumer will be awarded statutory damages of up to $1,000, actual damages in an amount proven to the judge or jury, reasonable attorney's fees, and costs of the action. 15 U.S.C. 1692k. |
| − | Despite being in force for 30 years, there are still many violations of this law committed by unscrupulous collectors every year. In 2006 there were 69,000 violations reported to the FTC. | + | Despite being in force for 30 years, there are still many violations of this law committed by unscrupulous collectors every year. In 2006 there were 69,000 violations reported to the FTC.<ref>{{cite web |url=http://www.ftc.gov/os/2006/04/P0648042006FDCPAReport.pdf|title=Federal Trade Commission Annual Report 2007; Fair Debt Collection Practices Act|accessdate=2007-08-24|publisher=Federal Trade Commission}}</ref> |
==Links== | ==Links== | ||
| − | [www.ftc.gov/bcp/edu/pubs/consumer/credit/cre27.pdf The text of the FDCPA] | + | [http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre27.pdf The text of the FDCPA]<br> |
| − | [www.ftc.gov/os/statutes/fdcpajump.shtm FTC Staff opinions on the application of the FDCPA] | + | [http://www.ftc.gov/os/statutes/fdcpajump.shtm FTC Staff opinions on the application of the FDCPA] |
==References== | ==References== | ||
{{Reflist}} | {{Reflist}} | ||
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| + | [[Category:Law]] | ||
Latest revision as of 15:54, July 18, 2016
The Fair Debt Collection Practices Act or FDCPA (15 USC 1692) is a law enacted in 1978 designed to protect consumers against abusive practices by Collection Agencies. In the event that a consumer defaults on a debt and that debt is transferred to a collection agency not owned by the original creditor, the FDCPA governs the rights a consumer has in dealing with the agency. The Act prevents collection agencies from contacting the consumer at an inconvenient time or place, use harassing or threatening language unless the collector actually intends to follow through (e.g. threatening to file suit but having no intention of doing so), and allows the consumer the right to dispute the validity of the debt. The FDCPA provides that when a collector violates the law that the consumer will be awarded statutory damages of up to $1,000, actual damages in an amount proven to the judge or jury, reasonable attorney's fees, and costs of the action. 15 U.S.C. 1692k.
Despite being in force for 30 years, there are still many violations of this law committed by unscrupulous collectors every year. In 2006 there were 69,000 violations reported to the FTC.[1]
Links
The text of the FDCPA
FTC Staff opinions on the application of the FDCPA
References
- ↑ Federal Trade Commission Annual Report 2007; Fair Debt Collection Practices Act. Federal Trade Commission. Retrieved on 2007-08-24.