Does the Fair Debt Collection Practices Act apply to us? We sell business
to business?
Answer: At first glance,
it would appear that the answer is no...but the real answer is that I
don't have enough information to answer the question. The purpose of
the Fair Debt Collection Practices Act [the FDCPA] is to ensure that
debt collectors refrain from using abusive and inappropriate tactics
to collect money owed. What 'abusive practices' does this law refer to?
Practices such as threatening a debtor with physical violence, or threatening
the debtor with jail for failing to pay the debt owed are only two examples.
I believe that credit managers would be well advised to assume that their
company and their collectors are subject to the provisions of the FDCPA
for two reasons: [1] To avoid any potential problems and [2] Because
treating debtor professionally is the right thing to do. |