Fair Debt Collecting Practices Act and You
The Fair Debt Collecting Practices Act is especially designed to protect you, the indebted, from being harassed by creditors and/or collection agencies. While it’s important that you pay money you have borrowed, in the event you are unable to pay, you will find protection against intimidating action of creditors and debt collectors under this Act.
Many creditors are tempted to harass you directly or through third party agents (collection agencies) in order to recover the money owed them. In such cases, you can file a suit against them under the Fair Debt Collecting Practices Act.
Keep in mind that no credit agency should:
- call you at your work place unless you permit it
- call you at odd hours – earlier than 9.00 AM or later than 10.30 PM
- misrepresent themselves to obtain information from you, or anyone related to you
- use abusive languages when asking you to repay the loans
- threaten you verbally or physically
For more information see Fair Debt Collection Practices Act
