What Is The Fair Debt Collection Practices Act?
September 30, 2007
The Fair Debt Collection Practices Act (or FDCPA) is a federal statute that seeks to eliminate abusive practices in the collection of consumer debts, to promote fair debt collection and to provide consumers with a way to dispute and obtain validation of debt information in order to ensure the information’s accuracy. The FDCPA creates guidelines under which debt collectors may conduct business, defines rights of consumers involved with debt collectors, and prescribes penalties and remedies for violations of the Act.
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