Let’s face it. Being in debt stinks. Nobody likes to owe money. The pressure when you fall past due on your bills is huge. This coupled with the threat of disconnecting utilities/services, the potential loss of property or the risk of added legal expenses can create the feeling of a downward spiral for just about anyone. We know paying a … Read More
COVID 19 Emergency Declarations Related to Collections
Last updated: April 20, 2020 State Relevant information related to collections California Non-essential businesses, including collection agencies, must close brick-and-mortar operations. Remote work, however, can continue—meaning that businesses may continue to operate with their staff telecommuting. Agencies should be mindful of the challenges that telecommuting may impose under other state and federal laws, e.g., the FDCPA (for all third-party collectors), … Read More
US Consumer Collection Complaints
US Consumer Collection Complaints – Jan. 2017- Jun. 2018 (BCFP Data) 494,540 Complaints received Jan. 2017 – Jun. 2018 27,474 Average complaints per month Jan. 2017 – Jun. 2018 +9% Change in average monthly complaints 2018 vs. 2017 TYPES OF DEBT ABOUT WHICH CONSUMERS COMPLAIN Twenty six percent of consumers with a credit file have a third-party collection tradeline listed. … Read More
Why does my phone still ring if I am on the Do Not Call List?
In 2003, the Federal Trade Commission (FTC) initiated the National Do Not Call List to stop unwanted SALES calls to consumers across the country. For many years, the FTC received complaints about telemarketers making harassing phone calls at all hours of the day and night without any clear method for consumers to block, control or stop these unwanted calls. Today … Read More
Know your Rights: Debt Collectors may NOT harass you!
The COVID pandemic has created a new and trying time. Between stay-at-home orders, and increasing unemployment, people across the US are challenged to keep up with their bills and make ends meet. The government is scrambling to invoke temporary restrictions for debt collectors in the coming months which may extend forms of payment forgiveness and waived fees. But did you … Read More
Legislators Advocate for Consumers
In the United States a variety of laws at both the federal and state levels regulate consumer affairs. Some examples include the Federal Food, Drug, and Cosmetic Act, Fair Trading Act, Fair Debt Collection Practices Act, the Fair Credit Reporting Act, Truth in Lending Act, Fair Credit Billing Act, and the Gramm–Leach–Bliley Act. The Bureau of Consumer Financial Protection (CFPB) specifically works to … Read More
Leading Driver of Consumer Debt
Debts are on the rise. It is hard to get ahead and stay ahead these days. Consumer debts include mortgages, automobile loans, student loans, medical expenses and credit card charges. Collectively these are increasing year over year. A recent survey by Northwestern Mutual found the following: Credit card debt remains one of the largest contributors to past due balances. According … Read More