What Is The Fair Credit Reporting Act And The Fair Debt Collection Act?

What is the Fair Credit Reporting Act and the Fair Debt Collection Act? Attorney Michael Ziegler explains that. The fair credit reporting act is a set of laws that create the rules and designate the responsibilities for the credit reporting agencies.

It creates the responsibilities for furnishers, meaning the companies that provide the information to the credit reporting agencies. It provides mechanisms for consumers to correct improper information that are on credit reports.

The Fair Debt Collection Act more technically known as the Fair Debt Collection Practices Act is the set of laws that apply to debt collectors, which talks about the rules by which they can collect on debts. It’s easy as to describe them as decency statutes.

In a nutshell, it says that even when the debt is owed, there are boundaries of reasonableness that we as a society have agreed to, which say, “Yes, you can collect on a debt, but you can’t go calling everybody that I know saying that a debt is owed or you can’t be calling me 20 times a day in a harassing manner and try to collect on the debt, or you can’t say things that are just absolutely false and threaten arrest or other unlawful means to encourage the collection of the debt.”

Contact attorney Michael Ziegler in Florida for a free case evaluation today. He founded his law firm on the principles of professional quality and personal care.

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