Comprehensive Guide
FDCPA - correct answer ✔✔ Congress enacted the federal Fair Debt Collection Practices Act in
1977 to prohibit third-party collection agencies from harassing, threatening and inappropriately
contacting someone who owes money.
FDCPA - correct answer ✔✔ The uses the FDCPA to block debt agencies from using abusive,
unfair or deceptive practices to collect from consumers. Though the law is clear, many collectors
don't play by the rules and complaints against them abound.FTC
- correct answer ✔✔ The FDCPA covers personal, family and household debts including credit
cards, home/auto loans, retail refinancing and medical bills.
no collection calls are permitted between 9 p.m. and 8 a.m. and none can be made to your
workplace, if you aren't allowed to take calls. - correct answer ✔✔ Phone calls
Misleading Threats - correct answer ✔✔ Debt collectors aren't allowed to threaten consumers
with legal actions that aren't permitted. They also can't threaten them with legal actions they
intend to pursue.
Wage Garnishment - correct answer ✔✔ Debt collectors are not legally allowed to garnish
wages or bank accounts without a court order. Such judgment directs a bank or employer to
turn over funds or wages in order to pay the debt. Even then, many federal benefits are exempt
from garnishment, including Social Security, student assistance and military annuities.
Misleading Correspondence - correct answer ✔✔ Debt collectors aren't allowed to give false
information about you to anyone including a credit reporting agency- and they can't send you
anything that looks like a court or government document if it isn't one. Conversely, they can't
lead you to think that papers they send you aren't legal forms if they are.
, Right to Sue - correct answer ✔✔ debt collectors break the law. Consumers can sue them
individually or through a class action
FDCPA - correct answer ✔✔ rules only apply to debt collectors, who either bought your debt
from a lender or a third-party company that the lender hired to recoup owed money.
Collecters - correct answer ✔✔ may be collection agencies, attorneys that buy delinquent debt
from creditors to collect.
- correct answer ✔✔ and Creditors are know
Rules for Contacting You - correct answer ✔✔ Notifying debt collectors in writing to stop
contacting you is your right, and creditors are still able to sue you if you fail to pay the debt.
They can contact you to let you know a lawsuit is coming.
Proving a Debt is Due - correct answer ✔✔ Name of the creditor
Amount owed Instructions on how to repay the debt This is called the validation notice and
must be sent to the consumer within five days of initial contact. After that, you have 30 days to
contact the debt collector-also by letter-and give reasons why you don't owe the debt or why
the amount is incorrect. Sometimes a debtor owes money to several creditors, or more than
one debt to a single creditor. Debts can also be resold multiple times, so the name of the
creditor might
Proving a debt is due - correct answer ✔✔ Sometimes a debtor owes money to several
creditors, or more than one debt to a single creditor. Debts can also be resold multiple times, so
the name of the creditor might
Proving the debt is due - correct answer ✔✔ After valadation, you have 30 days to contact the
debt collector-also by letter-and give reasons why you don't owe the debt or why the amount is
incorrect.