Debt and Debt Consolidation

Personal finance is an issue that is, well, personal. Due to the delicate nature of this subject, debt collection is closely monitored by Federal and State laws that do their best to protect the privacy of a debtor. The Fair Debt Collection Practice Act (FDCPA) is a federal law that all third party debt collectors must abide by and it comes with strict guidelines regulating how a collection agent may approach the issue of contacting consumers and how to preserve their privacy. First off, a bill collector can only speak about your debt to you, the credit bureaus, and the creditor that they are working for. They certainly cannot make up a list of their debtors to distribute to other creditors, or advertise a debt for sale.