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Florida residents should be aware of harassment by your creditors

On Behalf of | Nov 1, 2013 | Chapter 7 Bankruptcy, Firm News

Whenever someone owes a creditor, there can be any number of avenues that creditor may take to get what they are owed. However, harassment by your creditors can lead to financial devastation in some states. If you are a Florida resident being harassed by those you owe money to, you may want to be aware of the various ways they may be able to get that debt paid.

There is a new report out that outlines the ways in which some collectors are using old laws to aggressively pursue collection. While most people know about the possibility of wage garnishment, there are other means that some collectors are employing in other states. The older laws have not kept up with a changing society, as one obscure law highlights. It is a law that protects farm animals from being taken but does not protect a minimal checking account or working car from collection.

Federal agencies have taken up the cause of keeping collectors from causing a family to be thrown into abject poverty, making them even more susceptible to falling further into debt. There is currently a law called the Fair Debt Collectors Act which aims to keep collectors on the up and up. The law prevents collectors from seizing necessary household goods, seizing a large portion of the person’s wages so as to push them below a livable wage, and leaving enough cash in a bank account to pay rent and utilities.

There is a proposal by a national agency that calls for individual states to evaluate the laws they have on the books when it comes to harassment by your creditors. Any Florida resident currently being harassed or who feels they are having more seized than they should, may want to investigate the current laws in Florida. Having an understanding of what creditors can and can’t legally do may be the best way to ensure fair treatment according to applicable state and federal laws.

Source: sfltimes.com, STATES NEED TO ACT TO PROTECT CONSUMERS FROM LOOPHOLES IN OUTDATED DEBT LAWS, No author, Oct. 24, 2013

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