The Fair Debt Collection Practice Act

Paper Summary:

This ten page graduate paper examines the Fair Debt Collection Practice Act (FDCPA). The author notes that in examining the history of the FDCPA, it is evident that its impact on the consumer finance industry in the United States has been demonstrated in a variety of important ways. The writer points out that this act was written and passed into law in order to eliminate unfair practices and to ensure that debt collectors who refrain from using abusive, deceptive or unfair debt collection practices are not competitively disadvantaged.

From the Paper:

"In examining the history of the Fair Debt Collection Practice Act, it is evident that its impact on the consumer finance industry in the United States has been demonstrated in a variety of important ways. This act was written and passed into law in order to eliminate unfair practices and to ensure that debt collectors who refrain from using abusive, deceptive or unfair debt collection practices are not competitively disadvantaged. In justifying their passage of the FDCPA, Congress cited the "abundant evidence of the use of abusive, deceptive, and unfair debt collection practices by many debt collectors. Abusive debt collection practices contribute to the number of personal bankruptcies, to marital instability, to the loss of jobs, and to invasions of individual privacy."

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