The Federal Trade Commission protects consumer's rights, and thus debtor's rights.
Even if you owe, you still have rights!
The Fair Debt Collections and Practices Act governs how the federal government deals with collectors and collections.
This Act provides certain protections against methods used by collections agencies to try to put unfair leverage on citizens.
The FDCPA is only applied to debt collectors. This includes agencies working on the request of a creditor, lawyers that collect debts, and companies that buy debt and attempt to collect upon it (debt buyers).
The FDCPA does not apply to the original creditor in which the debt originated.
Debt types covered by the FDCPA include credit cards, mortgages, medical debts, and other personal, family or household related debts.
This means that the FDCPA does not apply to business-related debts.
Debt Collectors may even attempt to contact you while you are at work, however they will not be allowed to do so once they have been informed otherwise.
If you find that a debt collector is violating you rights by attempting to do any of the things listed above, contact our offices immediately!
**(Under the FDCPA guidelines , however, you are able to send a letter to the collector demanding that they stop contacting you.)**
The unpaid debt will still be reported as unpaid by credit agencies, and will be on there for up to 7 years, and a bankruptcy will be retained for up to 10 years.
Hard caps on interest rates