Monday, May 3, 2010

Collecting a Debt in the United States (continued)

Collecting a Debt in the United States (continued)
Who is Considered a Debt Collector?

A debt collector, as defined by the Fair Debt Collection Practices Act, is anyone who regularly collects debt on behalf of the original creditor. Original creditors, such as credit card companies and banks, are not considered debt collectors when they attempt to collect debts owed directly to them. Thus, original creditors are not covered under the FDCA. Moreover, the FDCA is somewhat limited in that it only covers consumer debt. This includes personal, familial and household debt, but does not cover business debts or any debt incurred for business purposes. Common types of consumer debt are credit card debt, car loans, mortgages, utility bills and medical debt.
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