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In 1978, a statute was added to the Consumer Credit Protection Act that designed to help consumers from being harassed by debt collectors.
The main purpose of the act was to set guidelines for collection agencies and personnel to follow when trying or attempting to collect on a debt. The primary goal is to establish ground rules or conduct for those in the business of debt collecting.
The FDCPA defines a debt collector as "any person who uses any instrumentality of interstate commerce or the mails in any business the principal purpose of which is the collection of any debts, or who regularly collects or attempts to collect, directly or indirectly, debts owed or due or asserted to be owed or due another."
The following are some of the items put forth by the new statute: debt collectors may only contact you via phone between the hours of 8 am and 9 pm, debt collectors may not contact you at your place of employment upon being notified by your employer that such action is deemed unacceptable, your name may not be published on a "bad debt" list, threatening legal action or arrest when such potential action is untrue, causing embarrassment through the media, reporting false information to your credit report.
These are only a handful of items that were passed to help protect the rights of those who owe a debt and are being harassed in the process. If you owe money and are being harassed, be sure to investigate the Debt Collection Practices Act to ensure your rights are being honored in the process.
If you are considering bankruptcy, please contact one of our bankruptcy attorneys. Our bankruptcy attorneys are familiar with chapter 7 bankruptcy, chapter 13 bankruptcy and chapter 11 bankruptcy.