Debtors’ Right

Debtor can be defined as a small entity which borrows money from other sources. The entity could be an individual, private or public organization and it could be even a government. The counter party could be a bank and it is often referred to as a creditor. Debtor has various rights and laws to protect them before the creditors. Default may occur only if the debtor is not able to meet the obligations successfully. According to Fair Debt Collection Practices Act which is often called the “FDCPA” gives the debtor specific legal rights who unlawfully hassle, pressure, threaten and intimate you. This act also protects from the creditor who calls you during odd times and making false statements about the debt and its intentions.

 

The false statements threats also include attachment of your wages to pay the debt, making daily calls until the debt is paid, calling your relations and telling about the debt,  contacting your neighbor about the debts, filing false criminal cases, threaten to imprisonment and criminal punishment. The threats can also include threat to take more wages than which is allowed by the federal limitation.  The can be threat also by contacting your employee and telling about the debt. The threat can also be in from of reporting the finance vehicle as the stolen one.  Fair Debt Collection Practices Act can protect debtors from these creditor and they also provide you specific right to live without any kind of threats from the creditors.