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Aug 4, 2020 · Federal and state debt collection regulations are meant to ensure fair measures are taken for both the borrower and the collector. Familiarizing yourself with these laws can not only help you navigate the debt collection process but can also help you avoid scams. Read our guide to dealing with debt collectors to learn more about how it all works.
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Aug 7, 2023 · Washington Fair Debt Collection Law. The law lists many prohibited practices by collection agencies, including various types of misrepresentations, threats, abuse, and harassment. Revised Code of Washington Section 19.16.250 prohibits nearly 30 types of practices by collection agencies.
- The Fair Debt Collection Practices Act
- The Fair Credit Reporting Act
- State Debt Collector Regulations
The Fair Debt Collection Practices Act (FDCPA)is the main federal law that governs debt collection practices. The FDCPA prohibits debt collection companies from using abusive, unfair, or deceptive practices to collect debts from you. The FDCPA covers the collection of debts that are primarily for personal, family, or household purposes. It doesn’t ...
The federal Fair Credit Reporting Actcovers how financial matters, including debts, can be reported in your credit report. For example, if a debt collector provides or furnishes information to a consumer reporting companies that you believe is inaccurate, you have the right to dispute that information and the credit reporting companies must: 1. Not...
Most states have laws about debt collection practices, many of which are similar to the FDCPA. Some of those state laws cover the original creditor, while others don't. States also have unfair and deceptive acts and practices laws that may apply to debt collection. Contact your state attorney general's office to learn more about the laws in your st...
Embed. With the new collection agency rule of the Consumer Financial Protection Bureau (“CFPB”) having taken effect on November 30, 2021, 1 we thought we could help round out your understanding...
A comprehensive summary of the consumer laws and regulations that apply to most collection agency practices in all 50 states, the District of Columbia, Guam, Puerto Rico and the U.S. Virgin Islands. Prepared by ACA International, Minneapolis, Minn. Any content provided ("Content") is presented for educational and general reference purposes only.
Jan 20, 2022 · State Regulations. Some states have chosen to enact their own regulations with collection practices that differ from or expand on federal regulations. Those states have their own agencies focused on enforcing their regulations across all debt collection practices.
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Oct 1, 2021 · Download a print-friendly version of the Debt Collection Rule FAQs, last updated July 27, 2022. The questions and answers below pertain to compliance with the Debt Collection Rule.
