WHAT ARE DEBTORS' RIGHTS?
Debtors' rights are those rights that are guaranteed by law for individuals who borrow money (the "debtor"), whether it is for buying a home, a car, or personal use. These rights protect debtors from debt collection abuse, and from being treated unfairly by creditors. Different rights are available for different situations.
Debtors' rights are protected by the federal Fair Debt Collection Practices Act (FDCPA) and many similar state laws. The Colorado Fair Debt Collection Practices Act (CFDCPA) is a state law that protects Colorado consumers from unfair and abusive debt collection practices. It applies to debt collectors, collection agencies, and companies that buy and collect debts in default. The CFDCPA does not apply to creditors who collect their own debts.
Debtors' rights include:
- the right to be free from heavy-handed or threatening collection practices;
- the right to know the amount, terms and original creditor that is the subject of a collection;
- the right to a hearing prior to a judgment being imposed around a debt owed; and
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the right to make a good faith effort to resolve the debt.
DO I NEED AN ATTORNEY TO DEFEND MY RIGHTS AS A DEBTOR?
Harassment by debt collectors can be very stressful. In addition, if you misunderstand or are uninformed about your rights you could find yourself further in debt by paying a debt you aren't obligated to pay. A knowledgeable debtors' rights attorney will know all the ins-and-outs of debt collection and can protect you from debt collection abuse. Kristen Allard Shier is an experienced Denver debtors' rights lawyer. She knows the debtors' rights laws in Colorado, and can help guide you through the complicated legal process. Debt collectors are subject to penalties for breaking the federal and state debt collections rules, including being made to pay your attorney's fees.
If you believe you are being harassed by a debt collector, contact the Law Office of Kristen Allard Shier today for a free consultation.
