Legal Question in Credit and Debt Law in Texas
commercial collections
I am aware of the laws in re: to consumers, but how is a business debt different, and why are they not protected under the same law as consumers?
Asked on 4/11/04, 5:08 am
1 Answer from Attorneys
Peter Bradie
Bradie, Bradie & Bradie
Re: commercial collections
The Fair Debt Collection Practices Act is designed to give assistance to individuals who haved acquired credit for their own, personal use. There's usually a disparity in bargaining strength between the individual and the lender.
Business debts are usually incurred to enable the business to make a profit.
Those differences are why businesses aren't given the same protection as individual consumers.
Answered on 4/11/04, 3:27 pm