Fair Debt Collection Practices Act

The video tutorial explains the regulations governing debt collection, focusing on the Fair Debt Collection Practices Act (FDCPA). It outlines the requirements for debt collectors to disclose their identity, the original creditor, and the nature of the debt. The video also details the limitations on debt collection practices, such as restricted contact hours and prohibitions on abusive behavior. Debtors have rights to dispute debts and stop collection efforts. Enforcement can be through government agencies or private actions, with potential damages and penalties for violations.

What must debt collectors disclose to debtors according to the regulations?

• The original creditor and the nature of the debt

• Their personal contact information

• The debtor's credit score

• The interest rate of the debt

During which hours are debt collectors allowed to contact debtors?

• 6:00 AM to 10:00 PM

• 7:00 AM to 10:00 PM

• 8:00 AM to 9:00 PM

• 9:00 AM to 8:00 PM

Which of the following is NOT a prohibited practice for debt collectors?

• Publishing the debt in a newspaper

• Sending a written notice of debt verification

• Using threatening language

• Contacting the debtor's employer

What action can a debtor take to stop collection efforts?

• Pay a portion of the debt

• Ignore the collector's calls

• Inform the collector in writing to cease contact

• Request a reduction in debt

Who can bring a civil action against a debt collector for violations?

• The debtor's employer

• The original creditor

• The Consumer Financial Protection Bureau

• The debtor's family