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Certain consumer debt has a “shelf life” in which a creditor or debt collector can legally sue you for the debt. This is called the debt’s statute of limitations, which varies by state and ...
Dividing debt during a divorce can be as challenging as separating assets, and it requires a clear understanding of state laws, the nature of the debt and each spouse’s financial situation.
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]
The National Association of Women Lawyers was instrumental in convincing the American Bar Association to create a Family Law section in many state courts, and pushed strongly for no-fault divorce law around 1960 (cf. Uniform Marriage and Divorce Act). In 1969, California became the first U.S. state to pass a no-fault divorce law. [15]
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.
Here’s how to find out if a debt collector is legit. Key takeaways. Scammers use texts, calls, emails and letters to create a false sense of urgency about debt repayment.