A number of federal and state laws have been passed that protect consumers from over zealous activities by financial institutions.
Debt Collection Laws
These include protections against unfair debt collections activities such as telephone calls that are harassing, or threatening. Collections calls at your job that interfere in your work, and other similar actions may violate federal and state law.
With the proliferation of consumer collections actions many collectors are not following the various laws that govern debt collections. It may be possible to prevail against these collectors when they bring suit in state court to collect these debts. You may have rights that can be used in your defense. These rights can be analyzed by contacting my office, or a reputable local consumer law attorney in your area.
Credit Reporting Errors/Identity Theft
It is good practice to review your credit report on an annual or semi-annual basis. If you have recently reviewed your credit report and there are mistakes or incorrect entries as to your financial status, they must be corrected by the credit reporting bureau. The continued release of incorrect information that damages a consumer’s credit history is a violation of federal law. In most credit reports there is an area that explains how to notify the credit report provider of the error on your report, so that it can be corrected.
Truth in Lending
When consumers enter into finance contracts there must be clear language that lists how the loan is structured. This includes a listing of how interest is charged and the total amount of the loan, that includes how the interest that is being charged. Many individuals and companies are involved in illegal activities that target unknowing consumers. Be aware of what your rights are, and how to enforce them.