Debt and Credit Laws for Your Protection
A good credit history is essential for each individual who has a potential need to take out a loan.
The credit worthiness of an individual reflects on all his financial dealings and, in reality,
impacts a person s...
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Debt and Credit Laws for Your Protection
A good credit history is essential for each individual who has a potential need to take out a loan.
The credit worthiness of an individual reflects on all his financial dealings and, in reality,
impacts a person s entire life.
If your credit score isn t especially admirable, then you may be
denied loans or advances when you have a need.
Alternatively, you might be able to secure a
loan with a low credit score, but it will be at a higher rate of interest than those prevalent in the
market.
Your credit score is taken quite seriously by lenders, debtors, various financial
institutions, and even employers.
Fair Debt Collection Practices Act
This act forms a portion of the "Consumer Credit Protection Act.
" In essence the law
emphasizes the need for a just and rational ethical approach in protecting the rights of the
consumer.
It forbids debt collectors from using pressure tactics, misleading actions, and
discriminatory powers to harass consume
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