Posts tagged as:

Fair Debt Collection Practices Act

What Debt Collectors Can and Cannot Do

January 26, 2010

The Federal Trade Commission has posted a video on their website and YouTube outlining consumers’ rights when contacted by debt collectors.
If you have been contacted by a debt collector, watching the video is a good place to start learning about your rights.
(photo: bisgovuk)

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Debt collector to pay $32,000 under the Fair Debt Collection Practices Act

July 14, 2009

Minnesota debt buyer and collector Debt Equities, LLC, must pay nearly $32,000 to resolve a Fair Debt Collection Practices Act lawsuit in Minnesota. Earlier this year, Debt Equities offered judgment for $15,000 (PDF). Just today, Magistrate Judge Keyes ordered Debt Equities to pay an additional $16,700.42 as attorney fees and costs (PDF).
Judge Keyes also said [...]

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Consumer loan defaults still rising, will probably lead to more abuse of consumers

July 7, 2009

More consumers are falling behind in their bills. 6.6% of all credit cards are more than 30 days late, and delinquencies tracked by the American Bankers Association are the highest since it began tracking them in 1974.
The rise in defaults—which is really not news, at this point—will inevitably lead to an increase in debt collection [...]

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Some lightweight tips on dealing with debt collectors

September 17, 2008

MarketWatch has an article, “How to deal with a debt collector” that reads like it was written by a debt collector. Read if you like, but the tips you can find on this blog will probably do you more good.
How to deal with a debt collector | MarketWatch

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Federal Debt Relief System: not a good system, may be a bunch of conspiracy nuts

September 16, 2008

Along with apparently every other member of the National Association of Consumer Advocates, I just got a letter (PDF) from Federal Debt Relief System, which says it is “restoring America’s freedom” on its letterhead. In the letter, FDRS says “Every account gets reviewed by a paralegal and is submitted to you as a Federal Complaint [...]

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What to do when a debt collector calls

August 15, 2008

Getting a phone call from a debt collector can be very upsetting. Often, they ask for more money than you think you owe or call about a debt you may not remember. But whether or not you owe the debt, there are a few important steps you need to take to make sure you protect [...]

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Stop debt collector calls with the TeleZapper

August 14, 2008

If you are getting phone calls from a debt collector, you should tell them, in writing, that you do not want them calling you. If that does not work, and just want them to stop, the TeleZapper should do the trick.
Most collection agencies use automatic—also called predictive—dialers. In other words, the collector sits at a [...]

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New form: request for validation letter

February 6, 2008

Pursuant to the Fair Debt Collection Practices Act, a debtor has 30 days after the first written communication from a debt collector to request validation of the debt. This form letter is a convenient form for requesting validation of the debt (PDF link). The form is a simple, fill-in-the-blank form. Keep a copy for yourself [...]

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