Fair debt collection broadly refers to regulation of the United States debt collection industry at both the federal and state level. At the Federal level, it is primarily governed by the Fair Debt Collection Practices Act (FDCPA). In addition, many U.S. states also have debt collection laws that regulate the credit and collection industry and give consumer debtors protection from abusive and deceptive practices. Many state laws track the language of the FDCPA, so that they are sometimes referred to as mini-FDCPAs.
Read more about Fair Debt Collection: State Regulation
Famous quotes containing the words fair, debt and/or collection:
“According to the law of nature it is only fair that no one should become richer through damages and injuries suffered by another.”
—Marcus Tullius Cicero (106–43 B.C.)
“Man’s pity for himself, or for his son,
Always premising that said son at college
Has not contracted much more debt than knowledge.”
—George Gordon Noel Byron (1788–1824)
“No collection of people who are all waiting for the same thing are capable of holding a natural conversation. Even if the thing they are waiting for is only a taxi.”
—Ben Elton (b. 1959)