Debt Collectors Should Send Notices For Debt Collection

The Fair Debt Collection Practices Act (FDCPA) is a federal statute designed and enforced by the Federal Trade Commission (FTC) to ensure fair collection of debts by the third party debt collectors. These third party collectors are employed by debt collection agencies with an offer of a commission on collecting payment on debt. To gain money quickly these debt collectors employ illegal and unethical means.

Under the FDCPA a debt collector must provide the consumer with a written notice within five days of the first communication that should state, the amount due, the name of the debt collection agency and the original creditors name.

If the collection agency provides the required notice, a debt collector need not provide it. One notice from either the debt collector or the debt collector's employer is enough. The notice should provide all the required information about the debt. However, for each debt the collector/debt collection agency should provide a separate notice.
The notices sent should be legible per the FDCPA. The FDCPA does not impose any restrictions on the font or format or sequence of the notice. It is acceptable as long as the required information is presented in a legible format and has all the required supporting documents. A debt collector may shorten or consolidate the information but should make sure that it is clear.
If the collection agency is represented by an attorney, the attorney should send the required notice. A debt collection attorney has to provide a notice even if the previous debt collector (if there is one) had sent one.
If a consumer disputes the debt, debt collector must verify the debt with a notice even if he has already proved the debt in the first wrongly. If the consumer requests the debt collector to identify the original creditor or disputes the debt, the debt collector should stop all collection efforts until the debt is verified.
A consumer is not assumed to have admitted to the liability if he does not dispute the validity of the debt. A debt collector may not stop normal collection methods till he receives a notice of dispute from the consumer. A debt collection attorney may go ahead with legal action even if the consumer disputes but has to stop all collection efforts until the debt dispute is verified.

About the Author:
Our FDCPA Attorney protects consumers from abusive and deceptive debt collectors, and their unfair debt collection practices.

Article Originally Published On: http://www.articlesnatch.com

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