Without a state fair debt collection law, victims of illegal debt collection practices in Nevada should refer to the federal Fair Debt Collection Practices Act (FDCPA). Features of the FDCPA include:
- Collectors cannot use inappropriate or obscene language or make threats
- Calls must be made between 8am and 9pm unless you specify otherwise
- Calls made to you at work cannot be made if your employer disapproves
- Debt collectors cannot correspond with debtors via postcard or use an envelop that indicates its from a collections agency
- If you send a cease and desist letter via mail, the collector cannot contact you again except to tell you they are taking legal action against you
- During communication (whether in person or by phone) creditors must state his name and not misrepresent who he works for (i.e. cannot say he is a cop or an attorney)
- The debt collection agency cannot imply that you’ve committed a crime or threaten to sell your debt in an attempt to collect
- You cannot be contacted by a debt collector if you are being represented by an attorney
Nevada consumers who believe the debt collection agency has violated the FDCPA can turn to the Act for legal recourse. Consumers in Nevada can be awarded damages of up to $1,000.
Nevada Statue of Limitations (SOL)
Nevada has a four-year statue of limitation (SOL) on open accounts such as credit cards, meaning that the creditor can contact you for up to four years. For written contracts creditors can also pursue you for up to six years. Consumers can consider Nevada debt settlement during the time the account remains open.
Nevada debt relief means that the law protects certain areas of wage garnishment. Areas that are exempt include:
- Pensions and retirement benefits--an unlimited amount of public pension benefits are protect in Nevada, along with up to $500,000 for several other retirement benefits
- Public benefits/assistance-- exempt in Nevada include workers’ compensation, unemployment, veterans and families with dependent children are protected
- Nevada insurance or annuities are protected included fraternal society benefits, insurance policies, annuities of up to $350 per month, health and life benefits
Nevada Credit Card Debt Relief Act of 2010
The Credit Card Debt Relief Act of 2010 has streamlined the methods for repaying debt and regulated how collectors work with debtors. The Act has impacted debt relief collections several ways:
- The number of fraudulent or weak performing credit card companies are gone
- Reduces the chances of falling victim to fraudulent debt settlement companies due to new Federal Trade Commission (FTC) reforms
- Increased, open communication from creditors--more information is provided to help you eliminate your loans
- Debt settlement companies cannot request upfront fees from clients