The Fair Debt Collection Practices ACT (FDCPA) was established to protect consumers from aggressive, harassing, or threatening collection tactics by debt collection agencies. Most Americans with debt have likely encountered debt collection harassment at one point in time or another. It can be as subtle as an early morning phone call on the weekend, or as…
Read MoreMany collection firms play by the rules and treat consumers fairly, but those that do not can cause financial harm to consumers and undermine the financial marketplace. Banks and other creditors may collect their own debt. They also may sell off debt to third parties. Those third-party debt buyers may collect the debt themselves or…
Read MoreWhen a debt collector contacts you, at some point in the conversation they must advise you that the call is from a debt collector in an attempt to collect a debt. At this point, you should not engage in open conversation. Especially DO NOT admit the debt is yours, regardless if you believe it is…
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