What Is the Fair Debt Collection Practices Act?
People often borrow money due to financial constraints because they may not have sufficient resources from the earnings they make. Lenders will loan money to qualifying borrowers for a certain time period with an added rate of interest. When in debt, you may have to face a lot of stressful moments and unsettling experiences.
There may be times you have insufficient funds to pay back the lender. Lenders may then resort to aggressive debt collection tactics. These lenders may hire a third-party collector, which can be even more traumatizing and stressful. This is why you should hire a FDCPA attorney to help resolve your debt problems. An attorney will stop any third-party debt collector from using harassing and aggressive debt collection practices.
The Fair Debt Collection Practices Act (FDCPA) is a federal statute that prevents debt collectors who are attempting to collect debts on behalf of another person or entity from employing aggressive debt collection tactics.
The law restricts debt collectors from contacting debtors, including limiting the time of day and frequency with which collection calls can be made. If the FDCPA is violated, a debtor can file a lawsuit against the debt collection company as well as the individual debt collector for damages and attorney fees.
Legal help will empower you so that you need not feel scared or threatened each time your lender calls for repayment. The lawyer will handle those calls on your behalf and can pursue a lawsuit if debt collectors violate the law. Many consumers fail to understand that they have rights, even in the face of debt collections, and they need not be embarrassed or scared to seek help.
An attorney will immediately take action to intercept those calls once they are hired. They will make sure that you are not bothered again by the debt collectors, and will work with you and the collector to resolve any outstanding disagreements regarding the debt.
The legal counsel will ensure that all negotiations go through them. Legal fees are often much less than any settlement you will have to pay debt collectors. Therefore, you need not worry that hiring a lawyer will create another financial burden.
How To Stop Creditor Harassment
The constant calls and never-ending harassment can get frustrating. Contact attorney or attorneys who are able to help with debt negotiations. This will then enable the banks and credit card companies to deal directly with your hired law firm counsel, whether your goal is to settle the debt or begin negotiations.
You will not have to talk to your creditors as your lawyer now handles all those communications. They will help you understand and enforce your rights under the FDCPA.
Rules Governing Debt Collection
According to the Fair Debt Collection Practices Act, specific rules protect borrowers from unscrupulous debt collectors. Certain ground rules ensure that debt collectors are held accountable for behavior that is unethical and harassing. Examples of bad behavior include:
- Calling the borrower repeatedly, again and again, even during inappropriate hours.
- Calling the workplace when your boss does not permit it.
- The use of obscene and profane language when talking to the borrower.
- Using a threatening tone or resorting to violence.
- Asserting that you owe them more than you actually do.
- Threatening prison or forfeiture of property.
- Sending you misleading documents that resemble legal documents.
- Increasing interest, fees, or charges on the borrowed amount without authorization.
- Trying to find out information about you and your whereabouts from third parties.
If lenders resort to such activities, then they are in violation of the fair debt collection act rules. If the behavior continues, you can file a lawsuit against them for violating the law and receive compensation from them instead. Borrowers are often unable to handle such cases on their own and need a legal professional who will help them to stop unethical debt collectors.
Understanding the FDCPA
The FDCPA is a federal statute that you can learn more about on the Internet, but the law may not be clear to you. You may require a fair debt collection attorney who will guide you through the rules.
Interpreting the law is not easy, as you have to determine which violations actually apply to your case. The laws have been interpreted by courts through case law and precedent.
Rules related to consumers and debt collection behavior have been more clearly defined in recent years because so many cases are being brought to courts of law. Lawyers who understand how to apply precedent will now be able to look into the history of your case and find out how the law impacts your situation when filing a lawsuit.
How Can FDCPA Help You?
The FDCPA Florida is a federal law that exists to help consumers in every state and provide them protection against aggressive debt collectors. It has been implemented with little change in every state.
You can seek the help of a legal professional to understand how the law can be utilized for your benefit. The law provides civil remedies for those whose rights have been violated under the act. An attorney will understand the nature of violations that may include:
- Unfounded threats
- Punishments
- Misrepresentations from third parties
With the authority of the law, you can choose to seek information from debt collectors and they have to comply accordingly. You can also challenge the accuracy or existence of the debt. With the help of a lawyer, you will have an opportunity to use the law to your benefit and resolve your case.
Using the FDCPA in Your Favor
If there have been violations in accordance with the FDCPA and your debt collector is found at fault, you then have the leverage for negotiating your debt or pursuing legal action so that the debt collector is either fined or punished for violating your rights.
Consumers should remember that, though the violations are punishable in the eyes of the law, they will not help eliminate your debt. You can, however, use the law as a tool to lower interest charges, decrease the debt, or extend the period of repayment.
The FDCPA act does not consider your credit score or financial situation. Whether you have a low credit score or a great one, violations of the law are considered on a case by case basis. Getting an attorney on board will give you relief from the constant harassment of unruly debt collectors because you now have a legal team that can handle them on your behalf.