When the debt collectors come calling, know your rights.

Collection companies are governed by the Fair Debt Collection Practices Act, a federal law. Enforcement is overseen by the Federal Trade Commission and state authorities, usually the office of the state attorney general.

The federal law prohibits collectors from:

— Harassment, including use of profanity, threats of violence or repeatedly calling to annoy;

— False statements, including misstating who they are, how much you owe or that you have committed a crime;

— Calling at inappropriate times, including before 8 a.m. or after 9 p.m. Read the rest of this entry »