Posted on
November 5, 2009
at
10:28 pm
What are the credit card collection rules?What or who has the authority to make and change these rules?Do they work?
Posted on
November 5, 2009
at
10:34 pm
What are the credit card collection rules?There are many.
What or who has the authority to make and change these rules?The Federal Trade Commission
Do they work? You mean if a violation was committed and the consumer reported it (armed with sufficient evidence), do debt collectors get penalized? I think, yes.
Posted on
November 6, 2009
at
12:15 am
The FTC has The Fair Debt Collection
Practices Act for the protection of the consumers and here are some of the frequently asked questions about credit card collection (rules):
Does the FDCPA cover all debts?The Act covers personal, family, and household debts, including money you owe on a personal credit card account, an auto loan, a medical bill, and your mortgage. The FDCPA doesn’t cover debts you incurred to run a business.Can debt collectors contact the consumer at all times?No. A debt collector may not contact you at inconvenient times or places, such as before 8 in the morning or after 9 at night, unless you agree to it. And collectors may not contact you at work if they’re told (orally or in writing) that you’re not allowed to get calls there.Can I ask them to stop contacting me?Yes, especially if you are certain that you do not own that debt. Write them a cease and desist letter. Do talk to them at least once though and find out what they really want.
Posted on
November 6, 2009
at
12:19 am
The FTC has The Fair Debt Collection Practices Act for the protection of the consumers and here are some of the frequently asked questions about credit card collection (rules):When a debt collector contacts you for the first time, he/she is aware that you are to be sent a written copy of what he was calling you about. Your debt. Five days after that initial contact you should expect a letter stating the following: amount you owe, creditors information, and what you can do to have that debt validated.*
as per FDCPAEvery collector must send you a written “validation notice” telling you how much money you owe within five days after they first contact you. This notice also must include the name of the creditor to whom you owe the money, and how to proceed if you don’t think you owe the money.
Posted on
November 6, 2009
at
12:21 am
What are considered credit card collection (rules) violations?What can the consumer do if he/she felt that those were violated?
Posted on
November 6, 2009
at
2:02 am
Credit card collection rules - What are considered credit card collection (rules) violations?HarassmentFalse statementsThreatsDebt collectors may also not: they may not:
-try to collect any interest, fee, or other charge on top of the amount you owe unless the contract that created your debt – or your state law – allows the charge-deposit a post-dated check early;-take or threaten to take your property unless it can be done legally; or contact you by postcard.
Posted on
November 6, 2009
at
2:10 am
Credit card collection rules - What can the consumer do if he/she felt that those were violated?The consumer may report it to the state Attorney General’s office (
www.naag.org) and the Federal Trade Commission (
www.ftc.gov). Keep in mind thought that many states have local debt collection laws that are different from the federal Fair Debt Collection Practices Act. That's why it's wise to contact the the state's Attorney General’s office.Or visit
ftc.gov or call toll-free, 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261.
