The Consumer Leasing Act is applicable to leasing for personal property for longer than 4 months (this does not apply to short-term car rental). The leaser has to provide you with the cost and terms of the lease in the form of written disclosures, such as the total cost of leasing, registration fee, taxes, maintenance and insurance, and, most important, the standards of wear and tear, such that any future dispute can be avoided, and, if not, at least resolved satisfactorily.

Review your state's laws regarding collections, and the federal Fair Debt Collection Practice Act to familiarize yourself with your rights as a consumer. When a collector knows you are knowledgeable, he or she cannot and will not intimidate you.

Always be knowledgeable of the law and your rights as a consumer. This will protect your credit and save you money.

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