Consumer law and consumer rights are a huge part of the American economy. Without the safeguards provided by consumer law, manufacturers and resellers would be free to be as unethical as they choose. However, you (and everyone else in the US) have certain consumer rights that protect them from unethical business practices and much more. Knowing your rights is the best way to avoid potentially harmful situations; even though the area is regulated, there are still unethical companies and individuals in the world.
In addition, your consumer rights extend beyond the market place. You'll find that they extend into financing and lending, into debt collection, college loans, contracts signed 'in the heat of the moment', leasing, medical supplies (drugs, supplies, etc), real estate and much more. The US government has spent extraordinary effort to ensure the safety of the American consumer. Knowing your rights helps you be a responsible consumer and a responsible citizen.
One of the most recent additions to your consumer rights was the National Do Not Call Registry. A new addition to the registry (an addendum), involves cell phone calls and text messages from advertisers. In short, any form of advertising that costs you, the consumer, money is likely unethical and illegal. For instance, receiving advertising in the form of text messages (except from your service provider), can be considered illegal in many cases.
Another form of consumer rights that many people are unaware of is the 'cooling off' laws. These laws state that you can cancel a legal contract signed through trade shows, door to door selling and several other methods within three days. Sometimes, this cancellation time can be extended to 3 years.
Much work has gone into crafting consumer rights and protection from predatory lenders and unscrupulous debt collection agencies. For instance, you have the right to tell debt collectors that you wish to correspond only through the mail; this forces them to stop harassing phone calls. In addition, loans (home equity, second mortgages and several other options) can be cancelled within three days of signing the contract with the lender.
Your consumer rights are an important part of the benefits you receive as an American citizen. Understanding those rights can be confusing (and time consuming), but it is vital. Without knowing your rights under the law, you can be taken advantage of very easily. Unscrupulous lenders, businesses, manufacturers and others are more than willing to prey on the unwary and uninformed consumer.
Consumer Rights
Exercising Your Consumer Rights
