What is the Fair Debt Collection Practices Act?

The Fair Debt Collection Practices Act is a federal law that regulates how debt collectors may interact with consumers. It sets out a number of consumer rights, such as the right to be informed of one’s rights, the right to be treated fairly and honestly, and the right to dispute or seek validation of debts. It also restricts the time, place, and circumstances in which debt collectors may contact debtors, as well as the forms of communication they may use. In the state of Georgia, the Fair Debt Collection Practices Act is enforced by the Governor’s Office of Consumer Protection (GOCP). The GOCP is empowered to investigate complaints against debt collectors and, if necessary, seek legal remedies including damages and injunctions. Additionally, debt collectors are prohibited from engaging in certain unfair and deceptive practices, such as misrepresenting the character or amount of a debt, as well as harassment or abuse of a debtor. The GOCP also maintains lists of consumers who have requested not to be contacted by debt collectors, and these lists are regularly shared with all licensed debt collectors in Georgia so that consumer privacy is respected. In addition, the GOCP also provides consumer protection education to the public in order to help educate consumers on their rights and responsibilities under the law.

Related FAQs

What are the regulations surrounding banking?
What are the U.S. banking laws?
What is the Federal Trade Commission Act?
What is the Fair Lending Act?
What is a loan originator?
What is required for a loan to be considered “secured”?
What is the Federal Reserve System?
What is the Home Mortgage Disclosure Act?
What is the Home Owners’ Loan Act?
What is the Real Estate Settlement Procedures Act?

What is the Fair Debt Collection Practices Act?

Related FAQs

Related Blog Posts