Collection Laws, Collection Agency, Collection Agencies

Collection Laws

Collection laws are Federal and State laws that regulate debt collection.

Debt Collections Laws For Collection Agencies

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Knowing and abiding to the proper State an Federal collection laws is paramount to your own debt collection success. State collections laws vary, and knowing the right collection law for your state and your debtor's state is essential. You do not want to give your debtor and easy out by violating the collections laws - at best. At worst, you can open yourself up to legal action and expensive attorneys fees.

Explore this site to discover: Collection Agency Locations, Collection Laws Statutes, Judgments, Wage Garnishments, Allowable Interest Rates and Collection Charges, Bad Check Collection Laws and Collection Agencies Requirements.

It is imperative to know that the collection agency you choose to represent your business must be in compliance with all applicable debt collections laws. There have been multi-million dollar judgments against un-ethical collection agencies for violating collections laws.

The 'mother' of all collection agency laws is the Fair Debt Collection Practices Act, or FDCPA. This collection law regulates what debt collector and collection agencies can and cannot do when attempting to collect a debt. The Fair Debt Collection Practices Act is the provides guidelines for all kinds of debt collections. For all debt collectors, be in-house or collection agencies, they must to understand the act and stay within the legally permitted boundaries.

Another of the major Federal collection laws is the Fair Credit Reporting Act, or FCRA. This collection agency law was designed to promote accuracy and ensure the privacy of the information used in consumer reports. If your collection agency reports to the credit bureaus - like Equifax, Experian & Trans Union, then they must follow this law by the letter as there have be recent massive lawsuits against collection agencies and the businesses they represent for violations of this and other collections laws.

For information on some of the major Federal collections laws or State collections laws, please visit the links on the collection laws navigational menu to the right. We have provided the full text of the most relevant collection laws. You can also find links to compliant collection agencies.

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Please note this website site not intended to give legal advice and may not be complete or up to date with the most current collection laws changes.Site Map

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