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Common reasons for consumer complaints against debt collection practices According to the CFPB , the primary complaints against debt collectors include: Efforts to recover debts that are not due ...
If you don’t recognize the debt, make sure you know the signs of a debt collection scam. 2. Know your debt collection rights. Educate yourself about your rights under the Fair Debt Collection ...
Fake debt collection is one of many all-too-familiar text scams. However, sometimes scammers will use an existing business's name and information to fake legitimacy.
File a complaint. Report the scam to relevant authorities to prevent similar incidents in the future: Report the debt collection scam to your state’s attorney general.
A debt collection bureau in Minnesota. Debt collection or cash collection is the process of pursuing payments of money or other agreed-upon value owed to a creditor. The debtors may be individuals or businesses. An organization that specializes in debt collection is known as a collection agency or debt collector. [1]
The Federal Debt Collection Procedures Act of 1990 (FDCPA), Title XXXVI of the Crime Control Act of 1990, Pub. L. No. 101-647, 104 Stat. 4789, 4933 (Nov. 29, 1990), is a United States federal law passed in 1990, affecting collection of money owed to the United States government. The FDCPA preempts state remedy laws in most circumstances.