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2. Know your debt collection rights. Educate yourself about your rights under the Fair Debt Collection Practices Act (FDCPA). This federal law regulates how creditors and debt collectors can ...
When you fail to repay credit card balances you owe, those unpaid debts are eventually sold to third-party debt collection agencies. This means you no longer owe the credit card company for the ...
If the process of settling debt with multiple creditors or debt collection agencies sounds overwhelming, you might consider hiring a debt relief company (also called a debt settlement company) to ...
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]
A good debt settlement company will handle calls from the credit card companies, nor the collection agencies. Calls will slow down as the settlement company makes contact with the creditors. Good settlement companies will arrange monthly update calls, establish a plan where the debtor can miss a payment or two, or finish the plan six months ...
The Colorado Department of Regulatory Agencies (DORA) is the principal department of the Colorado state government [1] responsible for professional licensing and consumer protection. [ 2 ] As the consumer protection agency for the State of Colorado , DORA's nine Divisions and more than 40 boards, commissions, and advisory committees license and ...
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