Chapter 21

Ten Consumer Protections Everyone Needs to Know

In This Chapter

arrow Getting acquainted with laws that can help protect you

arrow Finding aid from lawyers, counselors, and government agencies

It has been said that a person can’t be too good-looking or have too many friends. This has never been truer than in the world of credit — at least the part about friends. The world of credit can be complex, unforgiving, and very expensive! The credit-granting, credit-reporting, and credit-scoring industries have become increasingly complex and powerful to the point where they are used for everything from issuing credit cards to getting jobs. Consumer advocates recognized that we need effective ways to keep errors, both yours and theirs, from seriously complicating your life. The result is a series of laws, protections, and agencies whose purpose is to keep the credit game honest and give consumers a fair opportunity to access the American financial system. These protections may not always work as you’d like, but if they didn’t exist, you’d be at the mercy of big business, and that’s no place you want to be.

In this chapter, I cover my top ten legal protection resources you have to guide you in dealing with the world of consumer credit.

The Fair Debt Collection Practices Act

Being protected ...

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