The Fair Debt Collection Practices Act, What Are My Rights If I Owe Money?

    If you have borrowed money on credit cards, owe some money on a personal loan, borrowed money from a bank or are paying a mortgage, by definition you are a “debtor”. If you get behind on paying your creditors or go into collections, you can be contacted by a debt collector. Yes, you did borrow the money and yes the creditor wants it back but they do not have free reign to harass you.

     The last I checked in this country there is no debtors’ prison. There are consequences for not paying your bills but you do have rights as a debtor. The Fair Debt Collection Practices Act offers you many protections as a debtor.  A creditor must treat you fairly and strictly prohibits certain tactics in the collection of a debt.  Keep in mind however that this consumer protection does not erase any legitimate debt that you have.

     The types of debt covered are family, personal and household debts.  This would include money borrowed to purchase a car, credit card, charge accounts and medical bills.  A debt collector is defined as any person who regularly collects debts that are owed to others.  A third party debt collector, collection agency, and attorneys also fall into this category.

     A debt collector has many options when it comes to contacting you about the repayment of a debt.  They may contact you by mail, telephone, fax and telegram.  A debt collector is not given free reign to contact you whenever they feel like it.  They are allowed to contact you from 8 am to 9 pm unless you agree to be contacted outside of this time period.  A debt collector is not allowed to contact you at work if they know that your employer does not allow such communication to take place during work hours. All you have to do is tell them to not call you at work the first time they call you and they must stop calling you there.