Good Debt or Bad Debt?

  • Section 1 thumbnail Debt Consolidation Options

  • Section 2 thumbnail Paying Off Credit Cards

  • Section 3 thumbnail Credit Counseling and Debt Relief Services

  • Section 4 thumbnail Dealing with Debt Collectors

  • Section 5 thumbnail Debt Settlement and Debt Elimination Scams

Good debt, bad debt

Debt Collection & Your Rights

Throughout your life, debt may be necessary and not a bad thing if you spend within your means. Debt is a form of borrowing and it is important to remember that every debt must be repaid. The Fair Debt Collection Practices Act (FDCPA) is the main federal law that governs debt collection practices. The FDCPA prohibits debt collection companies from using abusive, unfair or deceptive practices to collect past due debts from you. Visit the Consumer Financial Protection Bureau  (CFPB) for more information regarding FDCPA.

Good debt, bad debt