Generally, the FDCPA excludes from its provisions: Creditors Collecting Their Own Debts, Retail Stores, Banks, Finance Companies – 15 U.S.C. 1692a(6). Assignees Before Default, Car Finance Companies, Mortgage Servicing Companies – 15 U.S.C. 1692a(6).
FDCPA
Generally, the following must abide by the FDCPA when collecting consumer debts: Collection Agencies – any person whose principal business is collecting debts and any person who regularly collects debts owed to another (15 U.S.C. Section 1692a(6)). Attorneys – any attorney who regularly collects consumer debts owed or due or asserted to be owed or [...]
The Fair Debt Collection Practice Act FDCPA regulates collection activity of consumer debt, debt arising out of transactions that are primarily for personal, household or family purposes, 15 U.S.C 1692a5. Business debt and the debt collectors who collect it are not covered by the FDCPA. The lesson herein is that not all debt collectors are [...]
In order for a debt to be governed by the Fair Debt Collection Practices Act, there are some requirements: The debt must be a consumer debt: The debt must have been incurred for personal, household, or family reasons; A debt collector must be involved: A debt collector (not the original creditor) collects for another; The [...]
When a debt collector tried to collect an unjustified legal fee from a tenant and was caught in the act, it claimed it had made a bona fide error in defense. The 9th Circuit Court of Appeals, in Reichert v. National Credit Systems, Inc., just recently upheld the federal district court in denying use of [...]
