When collecting on a debt, it is important to do so in the most fair and compliant way. One extremely important aspect is adherence to the Fair Debt Collection Practices Act (FDCPA). This consumer protection amendment establishes legal protection from abusive debt collection practices, to the Consumer Credit Protection Act, as Title VIII of that act.
The statute’s stated purposes are to:
- Eliminate abusive practices in the collection of consumer debt
- Promote fair debt collection
- Provide consumers with an avenue for disputing and obtaining validation of debt information in order to ensure the information’s accuracy
The act creates guidelines under which debt collectors may conduct business, defines rights of consumers involved with debt collectors, and prescribes penalties and remedies for violations of the act. It is sometimes used in conjunction with the Fair Credit Reporting Act.
It also requires debt collectors to:
- Identify themselves and notify the consumer
- Give the name and address of the original creditor
- Notify the consumer of his or her right to dispute the debt
- File a lawsuit in a proper venue
If you seek to collect outstanding debt, it is important that you do it in a compliant way to mitigate any possible legal consequences.
When we at Carpenter & Associates work with clients, we have two foremost goals: to obtain the funds in the most efficient way and to ensure legality and due diligence. We will work directly with you and apply our comprehensive knowledge to adhere to all regulations. We encourage you to get in touch.
If you have collections law questions, contact our attorneys for answers and experienced legal help. Our Albuquerque lawyers provide free initial consultations, accept credit cards, charge competitive rates, and speak Spanish. Call our law office at 505-243-0065 or contact us online .