What are the key regulations in debt collection I should know about?
An example of an AI chatbot conversation about regulations in debt collection.
What are the key regulations in debt collection I should know about?
The Fair Debt Collection Practices Act (FDCPA) is the primary regulation governing debt collection in the U.S. It prohibits abusive practices and requires debt collectors to provide certain information.
Can you explain what practices are considered abusive?
Sure! Abusive practices include harassment, false statements, and threats of violence. Collectors cannot call you at unreasonable hours or use profane language.
What rights do I have as a debtor?
As a debtor, you have the right to request validation of the debt, to be treated fairly, and to dispute any inaccuracies in your credit report.
How can I report a debt collector that violates these regulations?
You can report violations to the Consumer Financial Protection Bureau (CFPB) or your state’s attorney general. Keeping records of the violations is also important.
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