Business Debts Protected By FDCPA?

[mo6579]

A puzzling question I've had for a while - Are buisiness debts covered by any federal laws? I ask because the family business I am a part of gets collection notices every once in a while from really old accounts. Can we respond for validation and dispute in the same way I could as a person (this is a corporation)? Most of the laws I am familiar with say pretty much that a public person of not knowledgable and is therefore protected by the law, whereas a business is expected to be knowledgable of the law and therefore not protected by these 'consumer' laws. Can we demand validation and dispute the same as a consumer or is a response to a lawsuit our only recourse? By the way, if it matters, we are incorporated in Illinois.

[myjourney]

Are these debts in the forum of CC's and were they secured by way of PG? Whats really old?

[pizzadude]

Nope, this type of debt is not covered under FDCPA:    http://www.federalreserve.gov/boarddocs/supmanual/cch/fairdebt.pdf

Coverage

Debt That Is Covered

The FDCPA applies only to the collection of debt incurred by a consumer primarily for personal, family, or household purposes. It does not apply to the collection of corporate debt or debt owed for business or agricultural purposes.

[mo6579]

Thanks, thats what I figured.