The purpose of the Fair Debt Collection Practices Act (FDCPA) is to stop debt collection practices that are abusive and to protect the consumer. Under the FDCPA, 15 USC Section 1692d, debt collectors cannot engage in conduct that is meant to harass, oppress, or abuse a person when attempting to
Many people have bad experiences with debt collectors and the Consumer Financial Protection Bureau (CFPB) wants to hear about them. They are preparing to update the rules that govern how debt collectors communicate with borrowers and they are seeking information from both debt collection companies and consumer advocates to help
(US law & generally) How information is supplied to the three credit reporting agencies is governed by the Fair Credit Reporting Act (FCRA). However, the law does not say that lenders are required to report any information to them. Major banks generally do report information to all the credit bureaus.
Having an enthusiastic elderly driver in the family sometimes makes people wary. And that is because people often assume all kinds of unkindly things regarding senior citizens, their driving in particular being a hot button issue. Statistics don’t help either. The elderly, along with the teenagers, run the highest risk
Last year the Federal Communications Commission (FCC) adopted several very significant changes to the Telephone Consumer Protection Act (TCPA). The changes to the regulations have become effective on October 16, 2013. Two of the changes include: A requirement that written consent be obtained prior to a business placing a call;
On September 25, 2013 the Federal Trade Commission (FTC) settled its first case that involved text messages under the Fair Debt Collection Practices Act. This case has shown that (1) the FTC believes that “clear and conspicuous” disclosure rules are applicable regardless of the medium and technological limitations of the
In the first Federal Trade Commission (FTC) action against a debt collector who used text messaging in their efforts to collect debts in an unlawful manner, the California based collector will pay $1 million to settle the charges that they violated federal law. It was alleged by the FTC that
By Bert Seither, Director of Operations at Corporate Tax Network About the author: Bert Seither is the Director of Operations at Corporate Tax Network, a national accounting and business development firm. For nearly 10 years, Seither has assisted small business owners to help put their companies on a path to
The Better Business Bureau (BBB) has recently issued an alert about the growing number of complaints about scam debt collectors over the past year. The BBB also advised consumers to learn about how to determine what is a legitimate debt collection effort and what is a scam. This can be
On its road to recovery from the tailspin of the Great Recession, the United States housing market has become a playground for schemers and scammers. It is fertile soil for fraud. Mortgage shenanigans proliferate due to whealings and dealings of “industry insiders” — loan officers, mortgage brokers and appraisers —
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