Debt Laws
Both the federal and state governments have passed laws designed to protect you from unethical collection practices. Some collectors count on the fact that you are too busy earning a living to become an expert on the laws that govern debt collections.
By becoming a Certified Debt, LLC client, you put a team of attorneys who work only on negotiating debt settlements in your corner. They know the laws that cover collections and credit, and they will take legal action against creditors and collection agencies that don’t follow the law.
We have created this debt laws page to allow you to learn about the laws designed to protect you. We hope that knowing these laws will help you see the value of negotiating a debt settlement and living a debt-free life.
Federal Debt Collection Statutes
- Fair Debt Collection Practices Act – This act was passed by Congress to amend the Consumer Credit Protection Act and provide additional safeguards against abuses by debt collectors.
- Fair Credit Reporting Act – This act sets forth the manner in which credit information is reported. It specifies how and to whom credit reporting information may be disclosed and the penalties for misusing credit report information.
- Fair Credit Billing Act – This act is an amendment of the Truth in Lending Act that covers credit cards. The act includes sections on correcting billing errors, crediting payments, and the rights of credit card customers.
- Credit Repair Organizations Act – This act is designed to protect consumers from deceptive practices by some credit repair companies. It specifies the information that must be provided by credit repair companies to consumers and the rights of consumers with regard to canceling contracts with these firms.
- Title 15, Chapter 41 – This section of federal statutes deals with credit disclosure, garnishment of wages, credit repair, credit reporting, and debt collection practices.
- Uniform Debt Management Services Act – This act contains a short history of the debt management industry and specifies the requirements debt management and debt settlement firms must meet.
- The Federal Rules of Bankruptcy Procedure – These rules describe the procedures to be followed in filing petitions under the various Chapters of the Bankruptcy Code.
State Laws Relating to Debts
- A state by state summary of key provisions relating to the discharge of debts
State Laws Relating to Consumer Protection
- A state by state rundown of key consumer protection statutes
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