Credit Laws 2011

There are many federal laws that are in place to protect consumers and to likewise protect creditors. Beyond federal laws, each and every state has its own individual credit laws.

For more specific laws, acts and rules you will want to search out your individual states specific laws. However, the laws, acts and rules presented herein are general in nature and most likely are contained and upheld in all states.

The Federal Consumer Credit Protection Act – Credit Laws protects individuals from being released from employment when an employee has their wages garnished due to debt. Many individuals have been forced to have their wages garnished due to their outstanding debts. In the past companies were permitted to release employees from their business if their wages were being garnished. However, this act makes it impossible for employers to terminate an employee for this reason.

This act, the Federal Consumer Credit Protection Act also limit’s the amount of money that can be garnished from an individuals wages. This protects individuals from losing all their money as part of garnishment.

There are many other laws, acts, and rules in place that protect your rights in a manner which allows you to live your life and pay your up to date bills, without putting you further behind. (See also our free credit repair tutorial)
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