Legal Question in Credit and Debt Law in California
collection agency limits
please tell me what are the limits a collection agency can charge from an original debt?
are they regulated? by who? where can i find this information on the internet or law library?
can i request my negative information to be completely removed after the debt is paid in full?
or do they have the option of keeping or removing it completely even after it is paid in full?
1 Answer from Attorneys
Re: collection agency limits
Collection agencies are limited by a number of statutes and regulations and are regulated by a number of governmental entities including the Federal Trade Commission and in most cases a state's statues. The FTC has a vast amount of information available at their web site at www.ftc.gov. Likewise, what a collection agency, as well as a credit reporting agency is permitted to do, and what information may be reported is governed by a number of laws and regulations including the Fair Debt Collection Practices Act, and the Fair Credit Reporting Act.
If you have a genuine issue with either a collection agency or a credit reporting agency, you would be well advised to seek the advice of an attorney experienced in this area of the law, if the information you need cannot be obtained from the FTCs site.
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