There is an extensive network of state and federal laws, including statutes and regulations, that govern how debt collectors must behave. These include several federal statutes such as the Fair Debt Collection Practices Act (FDCPA), the Fair Credit Reporting act (FCRA), the Telephone Consumer Protection Act (TCPA) and others. Here in Massachusetts, there are also extensive state regulations that govern collections including regulations of how creditors may attempt to collect on their own debts. Both the Attorney General and the Division of Banks have rules that protect consumers.
Failure to abide by these requirements can be costly. Remedies may include damages, payment of attorney’s fees, possible consent orders with their attendant negative publicity, and even the risk of injunctive relief that restricts or prohibits recovery on accounts.
If you've run into a legal problem involving your rights and obligations in connection with the collection of a debt, or if you simply want to review your policies and procedures to avoid a problem in the future, I can help. Schedule a free consultation with the Kraft Law Firm today.