A Review of Fair Debt Collections Law

The Fair Debt Collection Practices Act was added to the Consumer Protection Act in 1978. The statute was added to the Consumer Credit Protection Act in order to stop debt collectors from harassing consumers that they are attempting to collect money from. The act describes numerous acts that are illegal for debt collectors, as well as a list of requirements that they must follow. Consumers are given added protection under the Fair Debt Collections law as they are able to validate that the debt belongs to them, as well as dispute a debt that is charged to them.

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How New Laws Have Made Debt Settlement A Viable Option

In recent years, debt settlement has become more and more popular, and in some cases, the only viable option for consumers to get out of debt. This is in part due to the effect of the struggling economy on all Americans, but it can also be attributed to changes in U.S. bankruptcy law as well as state-specific changes to debt settlement law.

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