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Browse our 13 legal questions about Debt & Collection and the lawyer answers, or ask your own questions for free.
Debt & Collection Law encompasses the regulations and practices involved in borrowing money and the collection of that money by creditors. This area of law governs how creditors and collectors can communicate with debtors, what actions they can take to collect a debt, and the rights of debtors to ensure fair treatment. It is designed to balance the interests of debtors and creditors, preventing abusive practices while ensuring that debts can be collected in a lawful manner.
There are several situations where you might require the assistance of a lawyer specializing in Debt & Collection:
Debt and collection laws can vary significantly by jurisdiction. However, some key aspects that are typically relevant include:
The FDCPA is a federal law that limits the behavior and actions of third-party debt collectors seeking to collect debts on behalf of another person or entity.
You can dispute a debt by sending a written request to the collection agency asking for validation and documentation of the debt.
Under the FDCPA, debt collectors can only contact you between 8 a.m. and 9 p.m. unless you agree to other terms.
If you receive a lawsuit, it's crucial to respond promptly. Consider contacting a lawyer to evaluate your options and represent your interests in court.
Yes, if a creditor has obtained a court judgment against you, they may garnish your wages based on local laws governing garnishment limits.
You can report harassment to the Consumer Financial Protection Bureau (CFPB) or your state's attorney general. Additionally, a lawyer can help you take legal action against the collector.
Generally, negative information remains on your credit report for seven years, though unpaid debts and other significant issues like bankruptcies may last longer.
If a debt was paid, it should not be sent to collections. You can dispute this action and request proof the debt is settled.
No, once the statute of limitations has passed, the debt collector cannot sue you to collect the debt. However, the debt may still exist.
A lawyer can negotiate on your behalf, aiming to reduce the total debt owed and work out a feasible payment plan.
For those seeking further information or assistance, consider the following resources:
If you need legal assistance concerning a debt issue, consider these steps:
