Collection Agencies in Florida| Debt Collection Laws

Florida Debt Collection Laws Summary

• The Florida Consumer Collection Practices Act (CCPA) supplements the protections provided by the federal Fair Debt Collection Practices Act. Unlike the FDCPA, it also covers original creditors.
• Florida requires all debt collectors to be registered with the State of Florida. FCCPA protects consumers from abusive, harassing, and unfair debt collection practices.
• Debt collectors may report the debt to credit reporting companies.
• Statute of limitations is the deadline for filing a lawsuit to recover debt. In Florida, there is a four to five-year limit for filing a lawsuit depending on the type of debt and agreement.

Florida Debt Statistics

• Average Student Loan in Florida: $25.5K
• The average mortgage debt in Florida was $188K in 2019.
• The average credit card debt in Florida as of 2019 is $9,300
  Per capita auto loan debt is around 5K
• Floridians had an average credit score of 668 in 2017

Florida Geographical Stats

• Population in Florida: 19.06 million (year 2018)
• Number of millionaires: 885K  ( year 2018)