Debt collectors must abide by the Fair Debt Collection Practices Act. If you suspect a debt collector has broken the FDCPA, it is critical to understand your rights, what you can do about it, and how to get help, according to lawyer Nathan DeLadurantey.
You Have Rights Under Federal Law
You have rights under federal law. The FDCPA is a federal law that protects consumers from abusive debt collection practices. It applies to third-party debt collectors, like those who work for banks or credit card companies, and not to creditors themselves.
If you believe that a collector has violated your rights under the FDCPA, you can take action by filing a complaint with the Consumer Financial Protection Bureau, an independent agency within the government dedicated solely to protecting consumers from unfair, deceptive, and abusive financial practices by banks and other financial institutions such as credit unions or auto dealerships.
Harassment Is Illegal And Often Unethical
Harassment violates both the law and moral standards. You should be on your watch if you receive such a letter since it indicates an unscrupulous debt collector.
Threats To Harm You Or Your Property
Fraudulent threats to file a lawsuit against you without a legitimate foundation in law. Calls were made repeatedly throughout the day and night, and even in the wee hours of the morning.
Your Credit Report Can Display Inaccurate Information
Nathan DeLadurantey Credit report disputes are frequent defenses against illegitimate collection activities. You may dispute inaccurate information about creditors with the credit bureau. If it is false, they will remove it from your file and notify the three major bureaus. If the first bureau fails to resolve your complaint, you should contact each one separately. Repetition of the same procedure at another agency may delay the outcome.
You Must Be Notified Before Collection Activity Begins
You must be informed before collecting. Before taking any collection action, a debt collector must disclose the debt’s origins under the FDCPA. Debt collector letters must include:
• The identity of the creditor you owe money.
• A statement detailing the amount owed.
• A description of the payment deadlines.
• Your Social Security number or other personal identification number’s last four digits.