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Consumer rights under the Fair Debt Collection Practices Act

Most Kentucky residents carry some form of debt. Whether it comes in the form of student loans, from overspending on a credit card or from a mortgage that allows them to work toward owning their home, a person can accumulate debt in many different ways. While some people are able to manage their debt and methodically work toward financial parity, others struggle to keep up with the payments on their loans.

When a person falls behind on their debts, they can become subject to collection efforts. Collection efforts involve actions taken by the loan holders or their proxies to seek payment of the sums they are due. If a debtor does not make the necessary payments under the loans to stay in good standing with their debt holders, then legal action may be taken against them.

However, there are certain tactics that lenders and collection agencies may not use to intimidate or harass debtors into making payments on their loans. These tactics are outlined in the Fair Debt Collection Practices Act, a consumer protection law that serves the needs of individuals.

Under the Act, collection entities may not contact debtors at inappropriate times of day or locations. If a debtor asks them to stop contacting them, the entities must honor those requests; pending certain judicial exceptions, collection entities may not speak with third parties about the debts of others.

The Fair Debt Collection Practices Act does not stop a debtor from having to pay off their financial obligations. It does, however, prevent collection agencies and loan holders from pressuring debtors into taking financial actions that they are not in a position to make. If you have questions regarding debt collection and creditors' rights, please contact an attorney to discuss your concerns.

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Sheehan, Barnett, Dean, Pennington, Little & Dexter, P.S.C.
114 South Fourth Street
Danville, KY 40422

Phone: 859-965-1072
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