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Many laws have been passed in the last 70 years to protect consumers. However, it is next to impossible for any consumer to know them all, know all of the factors they cover, and how to implement the protections. Lenders count on this fact.

They or the companies to whom they sell their debt, frequently expect their collection efforts to intimidate you into paying them. They count on you not knowing your rights, and they trample on them in their efforts to collect. Consumers cannot expect proper treatment in these matters…it’s a matter of money. Money is all they care about. Here are just a few of the laws that are used to help consumers:

Fair Debt Collections Practices Act (FDCPA): protects the public from illegal and unethical tactics of the debt collectors. Stops harassment and abuse. Significant monetary awards may be possible for each and every proven violation.  Go Here to read full explanation on this law.

Fair and Accurate Credit Transaction Act (FACTA): fight the growing crime of identity theft.  Go Here to learn more about this law.

Fair Credit Reporting Act (FCRA): Accuracy, fairness and privacy of credit information by consumer credit reporting agencies.  Go Here to learn more about this law.

Fair Credit Billing Act (FCBA): protects and gives consumers a way to correct billing errors.  Go Here for more on this law.

Truth in Lending Act (TILA): requires lenders to provide you with full disclosure regarding the costs and terms of a loan.  Go Here to research this topic.

Equal Credit Opportunity Act (ECOA): prohibits discrimination in lending practices.  Go Here to find out more about this law.

Each state also has its own set of similar laws, which are most often much more stringent than the federal ftc logolaws.

Overseen by the Federal Trade Commission (FTC) and the Consumer Financial Protection Bureau (CFPB), these are the organizations consumers can turn to if they are having trouble being heard by the lenders and their collection companies.

Send contact form or call a specialist 800-610-3440 today!

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