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The Fair Debt Collection Practices Act (FDCPA), Pub. L. 95-109; 91 Stat. 874, codified as 15 U.S.C. § 1692 –1692p, approved on September 20, 1977 (and as subsequently amended), is a consumer protection amendment, establishing legal protection from abusive debt collection practices, to the Consumer Credit Protection Act, as Title VIII of that Act.
U.S. state laws on fair debt collection generally fall into two categories: laws which require persons who are collecting debts from consumers to be licensed, registered or bonded in order to collect from consumers in their states, and laws that protect consumers from specific unfair practices by debt collectors, which may include collection agencies and sometimes original creditors. [2]
In 1977, Congress enacted the Fair Debt Collection Practices Act (FDCPA), a landmark consumer protection law which established federal legal protections against abusive or unfair debt collection practices. It enacted regulations on the way debt collectors could conduct business, including requirements for serving notice of collection lawsuits ...
The Consumer Financial Protection Bureau on Friday ordered Commonwealth Financial Systems, a debt collection agency specializing in medical debt, to shut down as a result of what CFPB determined ...
The consumer bureau said in a statement that "collection of debts from those contracts may violate the consumer financial protection laws, including the Fair Debt Collection Practices Act” and ...
Per the Fair Debt Collection Practices Act, borrowers can only be charged for fees agreed to when they took out the loan or those affirmatively permitted by law. “Ocwen is wrong,” the CFPB ...
The Fair Debt Collection Practices Act (FDCPA) was passed in 1978 to give consumers rights and the ability to maintain accurate information when dealing with debt collection. Under the act, any consumer information regarding debt is protected. [16]
Additionally, familiarize yourself with your rights under the Fair Debt Collection Practices Act (FDCPA) to protect yourself from unfair practices during the negotiation process.
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