The Consumer Financial Protection Bureau (the “CFPB”) is getting ready to update rules on how debt collectors can communicate with borrowers. Complaints about debt collectors have topped complaints about all other financial products the bureau covers. Many of these complaints include collectors attempting to collect debts that were already repaid and debts that never existed.
An estimated 30 million people have a debt in collection. Collectors now make thousands of calls to consumer cell phones, which poses a problem because current debt collection law predates cell phones. Consumers now receive debt collection calls outside the privacy of their homes, which the law did not contemplate when it was formed.
If you have a debt in collection, contact a qualified debt settlement attorney. A qualified debt settlement attorney will help you enforce your rights and protect you from illegal collection practices.
Kevin Fallon McCarthy
Latest posts by Kevin Fallon McCarthy (see all)
- Different Ways to Get Out of Debt - January 22, 2019
- Public Servants’ Second Chance at Federal Student Loan Forgiveness - April 10, 2018
- CREDIT CARD LOSS FOR SMALL BANKS AT AN EIGHT YEAR HIGH - March 22, 2018
- Rise of the Jumbo Student Loans - March 17, 2018
- Credit Card Market: Now and Then - February 23, 2018