What is the purpose of the federal Fair Debt Collection Practices Act (FDCPA)?
The Fair Debt Collection Practices Act (FDCPA) is a federal law that was created with the purpose of protecting consumers from unfair or abusive debt collection practices. This act is enforced by the Federal Trade Commission and the Consumer Financial Protection Bureau. The FDCPA was enacted in 1977 to protect consumers from aggressive and harassing debt collection practices. The law provides consumers with basic rights, including the right to dispute a debt in writing, the right to privacy, and the right to receive verification of the debt from the creditor. The act also regulates the methods debt collectors can use to contact debtors. It prohibits debt collectors from calling debtors at unreasonable hours, using profane language, or threatening legal action unless they intend to follow through on the threat. It also requires debt collectors to clearly disclose the amount of the debt, the name of the creditor, and the debtor’s right to dispute the debt. Overall, the Fair Debt Collection Practices Act (FDCPA) is intended to protect consumers from unfair, deceptive, and abusive debt collection practices. It provides consumers with the right to privacy, to dispute debts in writing, and to receive verification of the debt. It also regulates the methods used by debt collectors to contact debtors.
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