Ohio Statute Of Limitations Debt

If a consumer does not pay his or her debts in a timely fashion, the creditor to whom the debt is owed has the option to charge-off the unpaid balance and sell it to a collection agency. The collection agency must abide by federal collection laws when attempting to collect the debt from the consumer.

Collection Activity Is Regulated by the FDCPA

The Fair Debt Collection Practices Act was established in 1977 to prevent unethical debt collection methods that were commonly in use at the time. Since then, the FDCPA has served to protect consumers and provide a legal guideline for debt collectors to follow when contacting consumers regarding unpaid debts.

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