This Essay explains 4 important credit laws. Giving information about its creation and their effects. Credit has become a major part of our lives. We use it to buy a lot of our products and major purchases. But it can be a hindering problem for many people. There are many laws that affect credit and how people can get credit. One of these laws is the Equal Credit Opportunity Act. This act was created in 1975, and …showed first 75 words of 675 total…

…showed last 75 words of 675 total…pay their debt. This bill limits when collectors can call you to the hours of, 8:00am to 9:00pm. Also if the debtor is represented by a lawyer, the creditors must contact the attorney. If you want to stop a debt collector from contacting you, you can send in a letter, and they must stop contacting you, but that does not mean that you can stop paying. You must still pay your debts to your creditors.