The Fair Debt Collection Practices Act, FDCPA, is a federal law that governs the actions of debt collectors for personal debts. When a attempts to collect a debt, that third-party is obligated to follow the FDCPA. The FDCPA does not regulate business debt or personal debt incurred for the benefit of a business. The Fair […]
Not being able to afford things is becoming very common in our world today. Money is the driving force behind what we do on a daily basis. We go to work to make money so we can pay our bills and enjoy life comfortably. Our economy is in the toughest situation it has been in […]
For the most part, debt is completely avoidable. When using a budget, and watching what you spend your money on you stay out of debt. One way to do so is to spend your money on on necessities and budgeting what you spend your money on. However, sometimes people still find a way to get in debt. What do you do when a debt collection agency is calling you to pay off a bill that was a necessity.
You have most likely done damage to your credit, whether you got a card from friends, went on too many shopping trips or were hit by economic pressures. You can reverse the effects of these actions though.
The Fair Debt Collection Practices Act was enforced in 1978 as part of the Consumer Credit Protection Act. The mission of the FDCPA is to protect consumers against abusive debt collection as well as provide consumers with fair debt collection processes. There are many enforced regulations as well as practices that are ruled against. The […]