Find Collection Agencies in California | Debt Collection Laws

California Debt Collection Laws Summary

• Rosenthal Fair Debt Collection Practices Act, is California’s version of the Fair Debt Collection Practices Act (FDCPA). Rosenthal act provides consumers protection from first-party creditors as well.
• Statute of limitations is the deadline for filing a lawsuit to recover debt. In California, there is generally a four-year limit for filing a lawsuit to collect a debt based on a written agreement.
• The Fair Debt Collection Practices Act (FDCPA) prohibits debt collectors from using abusive, unfair, or deceptive practices to collect from debtors. The FDCPA does not cover debts incurred in running a business.
• Debt collectors may report the debt to credit reporting companies.
• California collection laws give a lot of protection and options to debtors if an agency breaks the law.

California Debt Statistics

• California had the highest average debt per household, at $71,470 as of 2018
• Californians owed $133 billion in student loan debt. Average Student Loan in California in 2019: $37,468.
• The average mortgage debt in California this year according to TransUnion is $334,925 in 2016.
• The average credit card debt in California as of 2018 is $10,496
  An average Californian had an auto loan balance of $18,324 as of 2016
• There were 80,391 bankruptcy  filings in 2015
• Californian had an average credit score of 661.4 in 2015

California Geographical Stats

• Population in California: 39.6 million (year 2018)
• Number of millionaires: 1.04 million  ( year 2018)

California debt collection agency can collect all across the state including these cities Los Angeles, San Diego, San Jose, San Francisco Bay Area, Fresno, Sacramento, Long Beach, Oakland, Bakersfield, Anaheim, Santa Ana, Riverside, Berkeley, Santa Rosa, Glendale, Modesto, Sunnyvale, Stockton, Irvine and Fremont.

Collection agencies in California can assist medical practices, small businesses, banks, schools and financial institutions recover money on past due bills and prevent writing off as a 100% loss. The best approach is to check for its online BBB reviews. In 2020, collection agencies were barred from collecting money from the stimulus checks of debtors during the coronavirus pandemic.

Source:
https://www.courts.ca.gov/9618.htm
https://oag.ca.gov/consumers/general/debt-collectors
https://www.usa.gov/debt
https://www.sfgate.com/technology/businessinsider/article/The-average-credit-card-debt-in-every-state-13141232.php
https://www.bankrate.com/loans/auto-loans/table-the-rise-in-auto-loans-across-the-us/
https://www.valuepenguin.com/average-credit-card-debt
https://www.debt.org/faqs/americans-in-debt/consumer-california/