Do you know that debt collectors can’t contact you before 8 am and after 9 pm? Under the Fair Debt Collection Practices Act (FDCPA) the statute of limitation to collect a debt can run between three years to 15 years depending on the state you live and the type of debt. The FDCPA is one of many statutes in the United States that regulate practices of debt collection among other things. Adopted in September 1977, the FDCPA is consumer protection act aimed at preventing debt collecting abuses, set rules to promote fair collection practices, and provide an avenue for consumers to validate debt information and ensure accuracy of debt information. Often the FDCPA used in hand in hand with the other consumer credit practices act known as the Fair Credit Reporting Act. The US Treasury Department assigned the responsibility to implement the FDCPA to the Consumer Financial Protection Bureau.
FDCPA allows the debtor to contact the collection agency to discuss and rearrange an overdue debt that has been referred to a collection agency. Be aware that in certain states, contacting the debt collection agency may reset the clock and allow the collector to demand a repayment immediately.