Fair Debt Collection Practices Act
Failure to repay a payday loan can lead to unfavorable attention from debt collectors.
In some cases, debt collectors may violate your rights under the Fair Debt Collection Practices Act.
The FTC has a consumer information site that answers common questions about debt collection practices…
Important Note: The Fair Debt Collection Practices Act (FDCPA) applies only to debt collectors. Payday lenders themselves are not bound by the FDCPA because they do not meet the definition of “debt collector” under federal law.
(We would like to extend our sincerest thanks to Jillian for pointing this out.)
From the website:
…the Fair Debt Collection Practices Act requires that debt collectors treat you fairly and prohibits certain methods of debt collection.
Fair Debt Collection - Facts for Consumers (External Link)
The Fair Debt Collection Practices Act (External Link)
Fair Debt Collection Practices Act Links (External Link)
(http://www.ftc.gov/)
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