What are the federal laws governing debt collection?

The federal laws governing debt collection are largely governed by the Fair Debt Collection Practices Act (FDCPA) and the Fair Credit Reporting Act (FCRA). The FDCPA is a federal law that prohibits debt collectors from using unfair, abusive, or deceptive practices when they are attempting to collect a debt from consumers. The law provides consumers with certain rights and protections when dealing with debt collectors, such as the right to dispute a debt and the right to be free from harassment. The FCRA is a federal law that regulates how credit bureaus and creditors can report and use consumer credit information. It requires credit bureaus to provide accurate, unbiased reports and to delete any inaccurate information. It also gives consumers the right to see their credit reports and dispute any inaccurate information that the credit bureau must investigate. In Minnesota, the Credit Card Dispute Resolution Law also provides additional protections for consumers. This law requires credit card companies to allow consumers to dispute charges before the charges are placed on their account, and to investigate the dispute before billing the consumer. The law also requires credit card companies to provide written notice to consumers before they assess a fee for a disputed charge.

Related FAQs

What are the most important steps to take when disputing a credit card charge?
How do I stop debt collectors from calling?
How do I dispute a credit card charge?
Is it possible to negotiate with my credit card company?
Is it possible to obtain a refund if I have been the victim of fraud?
What is the Fair Debt Collection Practices Act?
What rights do I have under the Equal Credit Opportunity Act?
What if a credit card company refuses to resolve a dispute?
What should I do if I am threatened or intimidated by debt collectors?
How can I dispute errors on my credit report?

What are the federal laws governing debt collection?

Related FAQs

Related Blog Posts