Credit Rights & Debt Collection Rights

You have many credit rights and debt collection rights. So, when dealing with debts, credit reports, credit bureaus, creditors, or debt collection agencies, make sure  you know your credit rights and debt collection rights. Your rights come from two sources: the Federal government and your state. The federal government laws on credit rights and debt collection rights are the same for everyone but each state has different state laws and rights. You can find out what your state say about your credit rights and debt collection rights by looking up your state law at your local library.

Two main credit laws giving you credit rights and debt collection rights

There are two laws that give you rights concerning credit issues such as credit reports, dealing with a debt collection agency, and dealing with credit bureaus. They are:

• The Federal Fair Credit Reporting Act, and
• The Federal Fair Debt Collection Practices Act.

Your debt collection rights - Federal Fair Debt Collection Practices Act (FDCPA)

The Federal Fair Debt Collection Practices Act or the abbreviated version FDCPA set the laws on what a collection agency can do or cannot do when trying to collect debts. In another word, the Federal Fair Debt Collection Practices Act states your debt collection rights. The laws of the Federal Fair Debt Collection Practices Act governs:

• debt collection agencies, and
• people acting as debt collectors

Your credit rights - Fair Credit Reporting Act 

Your credit rights are set forth by the Fair Credit Reporting Act. The Fair Credit Reporting Act or the abbreviated FCRA deals with credit reports and credit bureaus.

• Fair Debt Collection Practices Act
• Fair Credit Reporting Act
• Wage Garnishment
• Debt Collection Lawsuit
• Personal Guarantee