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U.S. state laws on fair debt collection generally fall into two categories: laws which require persons who are collecting debts from consumers to be licensed, registered or bonded in order to collect from consumers in their states, and laws that protect consumers from specific unfair practices by debt collectors, which may include collection agencies and sometimes original creditors. [2]
Statute of limitations on debt collection by state. The statute of limitations is a law that limits how long debt collectors can legally sue consumers for unpaid debt. The statute of limitations ...
This is because of the statute of limitations on debt. However, the terms of these laws vary, by state and by type of debt. For example, federal student loan debt is not covered by the statute of ...
This is called the debt’s statute of limitations, which varies by state and type of debt. If the statute of limitations has expired, the debt collector can no longer sue you to recoup the debt.
The FDCPA specifies that if a state law is more restrictive than the federal law, the state law will supersede the federal portion of the act. Thus, the more restrictive state laws will apply to any agency that is located in that state or makes calls to debtors inside such a state. Among the protections provided by the FDCPA are the following:
The Fair Debt Collection Practices Act (FDCPA), Pub. L. 95-109; 91 Stat. 874, codified as 15 U.S.C. § 1692 –1692p, approved on September 20, 1977 (and as subsequently amended), is a consumer protection amendment, establishing legal protection from abusive debt collection practices, to the Consumer Credit Protection Act, as Title VIII of that Act.
Each state has a statute of limitations on how long a debt collector can pursue old debt. For most states, this ranges between two and 10 years. For most states, this ranges between two and 10 years.
The Fair Debt Collection Practices Act (FDCPA) was passed in 1978 to give consumers rights and the ability to maintain accurate information when dealing with debt collection. Under the act, any consumer information regarding debt is protected. [ 16 ]