As a consumer, it may feel like you have no rights. Unfortunately, it can seem like corporations and big companies run the show. However, it’s necessary to understand that the law is on your side. In the United States, there are a number of important laws, rules, and regulations that companies must follow to protect the rights of consumers. As such, it’s imperative to become familiar with some of the most important consumer protection laws established to help shield you from unfair and manipulative business practices. The following blog explores the laws you should know about and the importance of working with a California consumer lawyer if you believe your rights were violated.
What Are the Major Consumer Protection Laws?
One of the most important laws in place to protect your rights as a consumer is the Truth in Lending Act (TILA). Under this law, credits are required to be completely transparent regarding loan conditions and fees to ensure consumers are fully aware of the terms and conditions they are agreeing to. Not only does this help prevent companies from taking advantage of consumers through hidden and undisclosed fees, but it also allows consumers to shop around for the best loan for their needs and financial circumstances.
Unfortunately, there is a misconception that those in debt are not granted the same protections as other consumers, which is far from the truth. In reality, the Fair Debt Collection Practices Act (FDCPA) regulates how third-party debt collectors can interact with consumers by regulating their behavior. As such, collectors cannot harass you, make threats, misidentify themselves, or talk to others about a debt you owe.
Finally, you should familiarize yourself with the rights established under the Fair Credit Reporting Act (FCRA). Reports estimate that nearly one in five Americans will find an error on their credit report over the course of their lifetime, so understanding your rights when disputing these matters is critical. Under the FCRA, consumers have the right to dispute the accuracy of information included in a credit report. Additionally, the FCRA helps keep your information private by limiting who can view this sensitive information.
What Should I Do if My Rights Are Violated?
Understanding your rights as a consumer is critical, as it can help you stay alert in the event a violation occurs. However, if your rights are violated, you may not know what steps to take to remedy these matters. Generally, the first step you should take is documenting the violation that has occurred. For example, if a debt collector calls you several times within the span of minutes, you should take a screenshot of the call log. Additionally, if you have tried to dispute an error on your credit report to no avail, you should retain a copy of the dispute and the supplemental documents you submitted to show the error.
Next, you can file a report with the agency responsible for enforcing these laws. The TILA and FCRA are both enforced by the Consumer Financial Protection Bureau, while the Federal Trade Commission is responsible for enforcing the FDCPA.
Finally, you should connect with an experienced consumer defense attorney. Unfortunately, many are unaware that they can suffer damages when these laws are violated, whether they are denied loans, offered astronomical interest rates, or even endured anxiety as a result of the violation. As such, working with a lawyer can help you understand the compensation you are entitled to and fight to recover the justice you deserve. At Los Angeles Legal Solutions, our team knows these circumstances can be frustrating. That is why we are committed to fighting for the best possible outcome for your unique situation. Contact us today to discuss your case with a member of our firm.
