Before September of 1977, debt collections were allowed to run roughshod over consumers by making threats and using abusive language to force the payment of outstanding credit card and personal loan balances.
The United State Congress enacted the Fair Debt Collection Practices Act (FDCPA) to place numerous legal restrictions on unscrupulous third party debt collectors.
Although aggressive bill collector behavior receives much of the publicity surrounding the FDCPA, the landmark federal law also includes several lesser known provisions that protect you against unethical debt collection agencies.
The FDCPA grants each state the legal ability to set a statute of limitations for the collection of delinquent consumer debts. With each state mandating the statute of limitations, there is not a uniform period that allows third party debt collectors to file consumer debt lawsuits.
However, four years is the common period set for the statute of limitations. If you send a statute of limitations letter to Atlantic Credit & Finance, make sure the third-party debt collector does not report your debt to any of the major credit reporting agencies.
Not only will hiring a lawyer protect you under the FDCPA, your lawyer should also be a legal expert when it comes to the Fair Credit Reporting Act (FCRA).
The FDCPA and a Statute of Limitations Letter
With all the legal protections granted by the FDCPA, the federal law does not establish a blueprint for writing a statute of limitations letter sent to Atlantic Credit & Finance. You need to work with a licensed consumer protection lawyer to ensure the third party debt collector receives the clear message that time has run out for the collection of a delinquent debt.
Your lawyer will also make sure any debt collection agency that contacts you complies with every provision written into the FDCPA. By working with an experienced consumer protection lawyer, you can sue Atlantic Credit & finance for one or more of the following FDCPA violations:
- Making threats
- Calling outside of permitted hours
- Using abusive language
- Implementing deceptive debt collection techniques
- Contacting friends and relatives and revealing sensitive financial information
Actual Sample Letter
Statute of limitations letters follow several guidelines to ensure the full compliance of third party debt collectors. Here is an example of an effective statute of limitations letter.
To Whom It May Concern:
This letter is in response to your letter dated November 11, 2018 in regards to the personal loan account number listed above.
TI have contacted the state Attorney General and I have confirmed the statute of limitations on this debt has expired. If you choose to pursue this matter in court, I will demonstrate proof that the statute of limitations has expired.
Let this letter serve as notification that I do not wish to be contacted about this debt any further, except if your agency verifies it has terminated efforts to communicate with me. Any other forms of communication concerning this debt will be considered a violation of the Fair Debt Collection Practices Act.
The bold font words place emphasis on important information within the letter.
Speak with an accomplished consumer protection lawyer to learn more about the legal protections granted by the FDCPA.
*Disclaimer: The content of this article serves only to provide information and should not be constructed as legal advice. If you file a claim against Atlantic Credit & Finance or any other third-party collection agency, you may not be entitled to any compensation.