Think you’ve got the FDCPA (Fair Debt Collection Practices Act) figured out? Don’t be so sure. While nothing can take the place of a lawyer’s advice, if you’ve at least overcome these three dangerous myths about the law, you may save yourself a lot of money and heartache. FDCPA Myth 3: the Fair Debt Collection Practices Act is the only law governing collections Fact: The FDCPA is a US federal law. Each state has additional laws that govern fair debt collection practices. Some portions of thos.