Welcome to Debt Collection Guide
Debt Collection Regulations Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
What Fair Debt Collection Means to You?
from:So, you may have missed some payments on your mortgage. Or, you may have failed to respond to calls from your creditor. Despite the fact that you may have failed to keep your end of the contract, you still have the right to be treated fairly during the process of debt collection.
Fair debt collection involves the use of proper tools to evaluate your situation. It also gives you ample time to respond to the notification of the debt collector. In order to ensure that debt collection is carried out fairly, the congress passed the Fair Debt Collection Practices Act or FDCPA.
The FDCPA ensures that there are guidelines that will protect you when you communicate with a debt collector to settle your accounts. The act states that the debt collector cannot intimidate you with false threats. He cannot scare you into thinking that you will go to jail if you fail to make payments on time. He cannot insult your race or make any negative references to your gender. He is also not allowed to talk to you using obscene and profane language.
Fair debt collection also protects your privacy. This means that debt collectors are not allowed to tell other people about your debt. They cannot put you in a place of public shame and humiliation in order to pressure you into paying. If the debt collection process is to be fair, then it is only right that you and your debt problems remain private and personal. More importantly, fair debt collection gives you the right to sue your debt collector if you feel that he is being abusive, aggressive or dishonest.
Fair debt collection means that even though you have failed to make some payments, the debt collection agency will still respect you and value you as a client. This means that you are given the opportunity to approach your debt collector and request for a change of payment scheme. Once you show that you intend to pay, you are allowed to renegotiate the structure of your debt. You and your debt collector will come up with a payment scheme that you can afford. This is what fair debt collection is about; it gives you a legal environment in which you can come up with an effective way to settle your debt.
So, if you have debts, do not panic. The United States of America has put in the necessary legal safeguards that will allow you to coordinate with debt collectors without fear of harassment or abuse. You won’t be arbitrarily driven out of your home or anything like that. The FDCDPA ensures that there is a fair debt collection process that will respect your rights as an individual and a customer. In the end, fair debt collection should help reduce the stress and anxiety that are brought about by the entire process of settling a debt.
Debt Collection Regulations Specific links
Debt Collection Regulations News
CBE Group Presents at NARCA 2012 Spring Collection Conference - PR Web (press release)
CBE Group Presents at NARCA 2012 Spring Collection Conference PR Web (press release) NARCA is a trade association dedicated to serving law firms engaged in the practice of consumer debt collection law. The 2012 Spring Collection Conference is suited for attorneys who focus on legal collection of consumer debt, buyers and sellers of ... |
Bad News for Most Debt Collectors and Good News for Consumers - Huffington Post
Bad News for Most Debt Collectors and Good News for Consumers Huffington Post Also in 1978, Congress enacted a debt-collection law known as the FDCPA, or "Fair Debt Collection Practices Act," which we're still working under today, 34 years later. Hemlines have changed a zillion times since then, but our debt-collection laws have ... |
Payday.net Introduces Article Dealing With Lending Policies - Midland Daily News
Payday.net Introduces Article Dealing With Lending Policies Midland Daily News Payday.net's “Policy on Responsible Lending” article covers the ins and outs of policies such as the Fair Debt Collection Practices Act, which prohibits lenders from using deceptive or abusive methods of collecting debt from consumers. |
Asta Funding, Inc. Announces New Joint Venture in Divorce Funding - MarketWatch (press release)
Asta Funding, Inc. Announces New Joint Venture in Divorce Funding MarketWatch (press release) Given its business in the debt collection field and investment in Pegasus Funding, LLC in the personal injury litigation funding field, Asta is uniquely qualified to understand the dynamics of funding divorce litigation cases. |
Collection agency used by three metro health systems under investigation - Detroit Free Press
 GovInfoSecurity.com | Collection agency used by three metro health systems under investigation Detroit Free Press The lawsuit charges that the company violated state and federal health-privacy laws and state debt-collection and consumer protection laws. Minnesota is in discussion with state and federal regulators about coordinating investigations, according to ... Accretive gets clean bill of health from other customers Franken vows to investigate Accretive Health Editorial: Close the hospital boiler room |