Fair Debt Collections ActDebt collectors

◦Cannot call before ____ or after ______◦Harass or abuse you in any way◦Lie about or imply you have

___________________ ______________if you do not pay your bill

◦Conceal their identityIf you rights have been violated

◦___________________________

Fair Credit Billing ActError on you bill

◦Call _________and inquire about error◦Follow up with letter within _____

days after it first appears on bill◦_______have to respond within ____

days ________error Or explain why it is correct

Only applies to ______________

Fair Credit Reporting ActGives you the right to _____ free

credit report each yearYou have the right to

________________

Fair Accurate Transaction ActAllows ____________with CRAYou have a right to see your

____________Receipts can only show last

_____digits of Card #Lenders must take action on

______________even before you are aware

Credit Cardholders Bill of Rights ActStrict finance charge and interest

rate rules◦Cannot ___________ interest rates for the

first ____ months◦Promotional rates must be for

______months◦Rate increases can only apply to _______

purchases◦Payments due _________day each month◦Statements need to be sent at least

________before due

Truth in _______Law◦Also know as _________________ ◦All costs be disclosed (Disclosure

Statement)◦ If your card is lost or stolen you may only

be liable up to $_____ for all unauthorized charges.

Usury Law◦____________________that a lender can

charge

Fair Credit Opportunity ActYou can not be denied credit

based on:◦_____________________________________

___________________________________________________

You can be denied credit based only on:◦_________credit history◦Not enough __________to pay◦Too much ________________

Getting out of debt…

1. Create a ___________2. Contact _____________3. Credit counseling4. Debt consolidation is __________5. Last resort: _______________