Many individuals have been facing financial hardship one way or another during the last few years throughout the United States. As a result, creditors do not receive the payments they require. Being in debt and in the management of collection is stressful enough. But when creditors begin sending letters, making harassing phone calls, and even threats, it can be downright scary. It is important that you know your rights and take quick action to enforce them.
This is a constitution of laws created in 1977 to help consumers harassed by offensive collection agents. Whether it is nonstop phone calls, aggressive letters, or being unfairly accused of owing money, the FDCPA was approved to enforce that no customer put up with any of it and have an opportunity to manage their bills in a civil manner.
The act follows guidelines which regulate the conduct of debt collectors and delineates the consumer’s rights affected by the debt collectors. In the same way, the act penalizes any violations of its regulations. It is important to note that the FDCPA defines consumer and debt as to personal or family. The act does not recognize consumer debts owed by businesses or individuals as business purposes.
In addition to providing a process for disputing the charges, the FCBA provides the following protections:
Protects all users of credit cards and department store cards of false charges, double charges, mathematical errors in their statements and address changes that can cause payments arriving late. It gives the consumers the right to make a late payment without any dues or negative credit report, if there was one of these situations.
To obtain protection under the FCBA, you must mail a written dispute to the billing address of your credit card company, which is usually different from the one for payments. In addition, the dispute notice must reach them within 60 days of receiving the invoice with questionable charges, so it is advisable to use certified mail or some sort of traceable service like FedEx or UPS. The credit card company must then recognize the dispute within 30 days, and completely clarify it within two billing periods. If they fail to comply with the FCBA, the individual can sue this creditor for damages and claim compensation for twice the financial burden of payment and legal fees.
The maximum amount you can get out of each pay check will be less than 25 percent of the disposable income or the amount by which the wages exceed 30 times the federal minimal wage. This boundary is increased to 50-65 percent in some cases of child support and alimony. The maximum was reduced to 10 percent for certain federal student loans in default. Employers are not permitted to fire an individual because of a debt owed to a creditor, as long as the action just happens to be a garnishment. However, if the liens are sorted by two or more debts, the restriction of the Embargo Act does not prevent an employer from dismissing an employee. This is one more reason to communicate with the creditors and work hard to keep the debts outside of work.
This is a U.S. federal law created in 1968. It was intended to protect the consumer in regards to the use of credit by restricting the garnishment of wages, providing the possibility of credit transaction cancelation, which may include a claim on the principal’s residence. It also manages some practices by credit card companies.
Going through a financial crisis can be stressful and difficult to handle without professional help. It’s a complex process that requires the help of a bankruptcy attorney. Oftentimes, the only option available is filing for bankruptcy. This can help solve a lot of problems and lay the foundation for a more financially stable future.
Lawyers are very familiar with the bankruptcy process and all that it entails. They know Florida laws and how they can be applied to each specific case. Bankruptcy attorneys can help you avoid unnecessary waiting time and also avoid common errors on legal forms. Hiring a bankruptcy lawyer from Gallardo law Firm can speed up the whole process and help you restore your economy with fewer complications involved.