Fair Debt Collection
Capital Acquisitons and Management Corp (CAMCO) and affiliated companies will pay $1 million to settle Federal Trade Commission charges that their debt collection practices violated Federal law.
The FTC charged CAMCO with threatening and harassing consumers over old and unenforceable debts as well as debts they never even incurred. According to the FTC, these deceptive and abusive collection practices violated the Fair Debt Collection Practices Act.
Do you know what your rights are under the Fair Debt Collection Practices Act? What can debt collectors do and what are they not allowed to do when they contact you regarding debts?
The Fair Debt Collection Practices Act provides rules and regulations that govern how you may be contacted, when and how often. Debt collectors may not use false or misleading statements to get you to pay a debt and they may not contact you at work if you request that they do not.
For more information on the Fair Debt Collection Practices Act, visit the FTC website’s Facts for Consumers.
I am so glad they had this law, a while back I had some guy trying to collect for an ebay auction that I never bid on. He harrassed me and called me everywhere, so I finally asked a lawyer for consultation and things were stopped.
That guy lost his license and was threatened with jail time when it is said and done, but some shady debt companies will do what they can to get money even when they aren’t entitled to it.
By Janus on December 10th, 2006 at 4:27 pm
Everyone should know their rights and if a debt collector violates these rules, they are not entitled to EVER collect that debt. So, if anyone contacting you about a debt violates your rights under the Fair Debt Collection Act, be sure to file a consumer complaint with your state’s attorney general’s office.
By Andrea on December 10th, 2006 at 6:33 pm