FAQs
- Frequently Asked Questions
Question
What are fair debt collection laws?
Fair debt collection laws are regulations designed to protect consumers from abusive, deceptive, and unfair debt collection practices. In the United States, the Fair Debt Collection Practices Act (FDCPA) is the primary federal law that governs debt collection practices. While Melton Norcross & Associates, LLC do not work with consumer debt, only commercial, B2B debt recovery of past due account receivables, we will attempt to provide further information about the Fair Debt Collection Practices Act (FDCPA) below.
Consumer Debt Collection
The FDCPA outlines a number of specific rules that debt collectors must follow when attempting to collect a debt from a consumer. For example, debt collectors are prohibited from using threats, intimidation, or harassment to collect a debt. They are also required to provide certain information to consumers, such as the amount of the debt, the name of the creditor, and information on how to dispute the debt.
Under the FDCPA, debt collectors are also prohibited from contacting consumers at inconvenient times, such as before 8:00 a.m. or after 9:00 p.m. They are not allowed to contact consumers at work if they are aware that the consumer’s employer prohibits such communication. Additionally, debt collectors are required to stop contacting a consumer if the consumer requests that they do so in writing.
It is important to note that fair debt collection laws can vary by state and country. In addition to the FDCPA, some states in the United States have their own laws and regulations that govern debt collection practices. Other countries may have similar laws or regulations in place to protect consumers from unfair or abusive debt collection practices.
If you are a consumer who is being contacted by a debt collector, it is important to understand your rights under fair debt collection laws. If you believe that a debt collector has violated your rights, you may be able to take legal action. It is recommended that you consult with an experienced attorney or legal professional for guidance on how to proceed.
Commercial Debt Collection
In the United States, fair debt collection laws, such as the Fair Debt Collection Practices Act (FDCPA), generally do not apply to commercial debt collection between businesses. The FDCPA specifically applies to consumer debts, which are debts incurred primarily for personal, family, or household purposes.
However, that does not mean that there are no regulations that govern commercial debt collection practices. Some states in the U.S. have their own laws and regulations that apply to commercial debt collection practices. Additionally, the Consumer Financial Protection Bureau (CFPB) has published guidelines for debt collection practices that businesses in the industry are expected to follow, regardless of whether the debt being collected is a consumer debt or a commercial debt.
It is important for businesses engaged in commercial debt collection to stay up to date on any applicable laws and regulations in their jurisdiction. Even if fair debt collection laws do not apply, businesses are expected to conduct themselves in a professional and ethical manner when attempting to collect a debt. Failure to do so can damage the reputation of the business and lead to legal or financial consequences.
Melton Norcross & Associates
Texas’s Top Commercial Debt Recovery Professionals
If you have specific questions about debt collection laws or regulations that may apply to your business, it is recommended that you consult with an experienced attorney or commercial debt collection professional in your jurisdiction. Melton Norcross & Associates are licensed in most states and can assist you with your state’s collection laws and recover your business’s past-due account receivables. As well experienced industry expert, Melton Norcross & Associates provides guidance on how to comply with current laws and regulations and keeps you informed of any changes that may be forthcoming, and provide professional commercial debt collection services to save you time and expense on recovering your past due receivables.
Our Commitment Policy:
NO COLLECTION, NO FEE POLICYMeaning if we don’t collect, we don’t get paid, period. There are no management fee’s or small print for hidden fees.
Oil and gas debt collection is our bread and butter, and no one understands the oil patch or how to collect an oil field receivable better than we do.
As an oil field collection agency in Texas, we have found through experience that in some cases the oil and gas mineral lien and enforcement of it is the most effective way of collecting payment from stubborn debtors refusing to cooperate or pay their respective claims due.
Our Commitment Policy:
NO COLLECTION, NO FEE POLICYMeaning if we don’t collect, we don’t get paid, period. There are no management fee’s or small print for hidden fees.
Oil and gas debt collection is our bread and butter, and no one understands the oil patch or how to collect an oil field receivable better than we do.
As an oil field collection agency in Texas, we have found through experience that in some cases the oil and gas mineral lien and enforcement of it is the most effective way of collecting payment from stubborn debtors refusing to cooperate or pay their respective claims due.
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We Understand Your Goals & Expectations.
At Melton Norcross, our mission is to not only understand your goals and expectations for your collections but to meet and exceed them.
Our highly knowledgeable and experienced team, combined with some of the best resources and tools available for collections, gives you the highest probability of recouping your past-due receivables.