Questions Answered About Collection Agency Laws
As the economic depression increases more and more individuals are facing bills that are spiraling out of control. Most people will either pay on their debts or avoid paying their bills all together. This will definitely ruin your credit with the Equifax Credit Bureau, thus killing your buying power.
After a bit they throw in the towel on that and refer you to a debt repo agency. Now the Debt Collection Software agency would like you to pay completely and in certain countries if you aren't able to pay they're going to go legal and get a bailiff to turn up at your home and demand payment. If you still can not pay, they can get a court order to enter your house and take away any products they can get their hands on to settle the debt.
Sometimes small items such as cell phone bills end up in collections. Often times the name of the creditor will change because the debt is now owned by a Collection Software company.
Does the FDCPA apply to only consumer debt, or business debt also? The FDCPA was put into place for consumer debt, and those owing business debt don't have the same rights as consumers do.
Personal information that makes it easy to identify a person. Often this includes some information based on where they lived in the past, where they currently live, as well as their social security number and full name.
19.Tighten or update and keep on top of your credit policy: now is not the time to extend credit blindly, and it is the time to collect from any customers that owe you money.
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