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:
“We hold on to hopes for next year every year in western Dakota: hoping that droughts will end; hoping that our crops won’t be hailed out in the few rainstorms that come; hoping that it won’t be too windy on the day we harvest, blowing away five bushels an acre; hoping ... that if we get a fair crop, we’ll be able to get a fair price for it. Sometimes survival is the only blessing that the terrifying angel of the Plains bestows.”
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“The debt was the most sacred obligation incurred during the war. It was by no means the largest in amount. We do not haggle with those who lent us money. We should not with those who gave health and blood and life. If doors are opened to fraud, contrive to close them. But don’t deny the obligation, or scold at its performance.”
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“Bolkenstein, a Minister, was speaking on the Dutch programme from London, and he said that they ought to make a collection of diaries and letters after the war. Of course, they all made a rush at my diary immediately. Just imagine how interesting it would be if I were to publish a romance of the “Secret Annexe.” The title alone would be enough to make people think it was a detective story.”
—Anne Frank (1929–1945)