I’ve been thinking of some of the bizarre things I’ve seen creditors do lately. You’ll find a lot written about abusive creditors, mean creditors, heartless creditors, and law-breaking creditors here at Bankruptcy Law Network. But what about stupid, self-destructive creditors? It’s obviously bad to violate the Fair Debt Collection Practices Act or the Bankruptcy Code’s [...]
Fair Debt Collection Practices Act
You can fight back against bill collectors. One man, from Parsons, Tennessee got so mad at a collection agency trying to collect an old debt that he decided to use some of their own tactics against the bill collectors themselves. Newschannel 5 in Nashville reports that Randy Falkner fought back. First Faulkner sent the collection agency a certified letter [...]
The Fair Debt Collection Practices Act (FDCA) does not specifically define the term Credit. However as with many other terms used in the FDCA, the Act relies on the definitions contained in the Equal Credit Opportunity Act (ECOA). Under the ECOA “Credit” is defined as either: The right to defer payment of a debt; or, The [...]
What does the term Adverse Action mean? The Fair Debt Collection Practices Act (FDCA) and the Equal Credit Opportunity Act (ECOA) use the same definition for Adverse Action. Adverse Action includes any of the following: The refusal to grant credit in substantially the amount or on substantially the terms requested; Termination of credit or an [...]
Phony debt collectors are making telephone calls to gain personal information and then stealing money by making unauthorized withdrawals of money from bank accounts, the Maryland Better Business Bureau warns, The BBB suggests you get the name, address and telephone number of the caller and then verify the debt in writing with the original creditor. [...]
