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Browse our 1 legal question about Debt & Collection in United States and the lawyer answers, or ask your own questions for free.
Debt and Collection Law in Evansville, and the wider United States, regulates how debts can be collected by creditors. The Fair Debt Collection Practices Act (FDCPA) is a federal law that protects consumers from abusive, unfair, or deceptive practices by debt collectors. However, it’s important to note that this law applies only to third-party collectors and not the original creditor. Depending on the nature and status of the debt, state laws like those in Indiana may also apply.
Engaging the services of a lawyer can be very beneficial in numerous circumstances. Firstly, if you are being harassed by debt collectors, a lawyer can help stop these practices. Lawyers can also assist when your rights under the FDCPA or state laws have been violated, when you are unsure of your rights, or if you are being sued by a debt collector. Furthermore, the legal expertise can be crucial in navigating bankruptcy declaration and understanding any long-term legal and financial ramifications that could ensue.
In addition to the FDCPA, Indiana has its own set of laws governing debt and collection. These provide further protections for consumers. For example, the state statute of limitations on debts is typically six years, depending on the type of debt. This means a creditor or collector has that length of time to sue you for an unpaid debt. Understand that acknowledging an old debt, paying a small amount, or accepting a payment plan could restart this timeline. Engaging an Evansville attorney would help explain these terms and rules better.
If you're being harassed by debt collectors, you can request in writing for the agency to cease contact. It's also recommended to talk to a lawyer to determine whether your rights under the FDCPA or local laws have been violated.
In the state of Indiana, the statute of limitations for debts is generally six years, but the precise length can vary depending on the type of debt. After this time, a debt collector cannot sue to collect the debt.
Not necessarily. While many unsecured debts such as credit card bills or medical debts may be discharged in a bankruptcy, other types of debts such as student loans, child support, alimony and certain types of tax debts typically cannot be discharged.
If a debt collector sues you and wins, they may be able to garnish your wages or put a lien on your property. If a collector threatens to sue, consult with an attorney as soon as possible.
Under the FDCPA, a debt collector can generally only contact third parties to obtain your contact information unless you have specifically agreed to allow them to do so.
The Indiana Department of Financial Institutions is a valuable resource for information regarding local laws. National bodies like the Federal Trade Commission (FTC) and Consumer Financial Protection Bureau (CFPB) also provide useful resources related to debt and collections.
If you need legal assistance related to a debt or collection issue, hunt for a local attorney specializing in this area of law. The Evansville Bar Association offers a lawyer referral service that can help you find a suitable attorney. Don't hesitate to engage professional help when dealing with debt and collection issues. An attorney can provide you with the necessary advice and guidance to protect your interests and navigate the complex legal landscape.
