Corrections: Only one collection call since I changed my phone listing.
No debt collector has ever admitted to me that they got my number out of the phone book.
Cathysceebs, welcome to Regulation Room and thank you for sharing your story. To fix bad debt collection practices, CFPB wants to know how to make practices better. When you told these collectors you weren't who they were looking for, did some of them fix the issue better than others? CFPB also has a number of questions and ideas about harassment and unlawful debt collection practices that could relate to the experience you had. You can read and talk about what the agency is asking
here.
Hi Cathy, I'd like to reply to your comment, "Why not just assign the debt to one collector who would use his/her very own fingers on the buttons to place the collection call?"
It's a good question, but unfortunately the answer is (of course) complicated. I can think of two quick reasons why that wouldn't be feasible:
1. Manually dialing phones slows down businesses and raises costs;
2. Automated dialing has preventive measures built in that manually dialing does not.
To expand on the first point, debt collectors are cost centers, meaning their primary goal is to minimize costs (i.e., delinquent monies). An automated dialing system allows for a much more efficient manner of calling delinquent account-holders. Representatives are able to review the account history and status while the system connects the call, so the rep can quickly engage the customer. If a customer has given their cell phone or home number to the lender knowing it may be used for future contact attempts, there is no difference to the customer if the call is executed through a computer or dialer on the keypad.
To expand on the second point, automated dialing systems have a lot of built in controls that actually protect the consumer. People make mistakes, and so do collectors: calling before 8am or after 9pm, calling a number that has been restricted through a Cease & Desist request, or even calling many many times throughout the day. Automated dialers can have filters in place that restrict calls to customers based on location, time of day, or even how many attempts have already been made. In addition, calls made through the dialer can all be recorded so if there is a problem with the representative, the customer can refer back to the recording and the truth will come out.
Thanks, and have a great day.
Dan,
I don't really care if manual dialing costs you more money. You obviously have never been subjected to dozens of misdirected robo calls from debt collectors.
Hi cathysceebs. CFPB has said that efficient and cost-effective methods of debt collection can allow creditors to give consumers more credit at lower prices. The agency has asked whether the FTC’s approach (at least 97% of calls must connect to a real person within 2 seconds of when the consumer answers) would be a good way to balance protecting consumers from the kinds of problems you’ve had with keeping collection costs down. What do you think?
I understand your concern and desire to stop the calls that are not for you. No one should be spoken to with disrespect. Period.
I dislike the fact that there isn’t a clearinghouse of sorts for phone numbers that would help eliminate the needless calls. Of course how would you stop a responsible party from adding their number to the NOT responsible list?
It is also unproductive for collection calls to be made to wrong party consumers. There isn’t a benefit to anyone to spend time making these calls.
There are many rules and regulations to keep collection agencies honest and legal. And there are consequences if they don’t. Do you know of any consequences to someone who gives out a bad phone number, address or even a name?
I think we should all ban together to restore integrity in the world of credit and stop making excuses for people who want to get out of paying.
I'm in the same situation--get calls about numerous people with my last name and one or the other of my two initials. None of the people being sought are even related to me, as far as I know, much less living with me. I would like to be able to make an official declaration that I have no delinquent debt and that I do not live with anyone who does. I'd be willing to renew the declaration once a year in order to stop receiving these calls that are nothing more than fishing expeditions.
Just a reminder that the only question at this point is whether the draft summary missed, or misstated, something relevant in the comments that RegulationRoom participants made before CFPB’s public comment period closed on Friday, Feb. 28.
cathysceebs
1
Corrections: Only one collection call since I changed my phone listing. No debt collector has ever admitted to me that they got my number out of the phone book.
View this comment in the discussion thread
Moderator
2
Cathysceebs, welcome to Regulation Room and thank you for sharing your story. To fix bad debt collection practices, CFPB wants to know how to make practices better. When you told these collectors you weren't who they were looking for, did some of them fix the issue better than others? CFPB also has a number of questions and ideas about harassment and unlawful debt collection practices that could relate to the experience you had. You can read and talk about what the agency is asking here.
View this comment in the discussion thread
dan.helfgott
3Hi Cathy, I'd like to reply to your comment, "Why not just assign the debt to one collector who would use his/her very own fingers on the buttons to place the collection call?" It's a good question, but unfortunately the answer is (of course) complicated. I can think of two quick reasons why that wouldn't be feasible: 1. Manually dialing phones slows down businesses and raises costs; 2. Automated dialing has preventive measures built in that manually dialing does not. To expand on the first point, debt collectors are cost centers, meaning their primary goal is to minimize costs (i.e., delinquent monies). An automated dialing system allows for a much more efficient manner of calling delinquent account-holders. Representatives are able to review the account history and status while the system connects the call, so the rep can quickly engage the customer. If a customer has given their cell phone or home number to the lender knowing it may be used for future contact attempts, there is no difference to the customer if the call is executed through a computer or dialer on the keypad. To expand on the second point, automated dialing systems have a lot of built in controls that actually protect the consumer. People make mistakes, and so do collectors: calling before 8am or after 9pm, calling a number that has been restricted through a Cease & Desist request, or even calling many many times throughout the day. Automated dialers can have filters in place that restrict calls to customers based on location, time of day, or even how many attempts have already been made. In addition, calls made through the dialer can all be recorded so if there is a problem with the representative, the customer can refer back to the recording and the truth will come out. Thanks, and have a great day.
View this comment in the discussion thread
cathysceebs
4
Dan, I don't really care if manual dialing costs you more money. You obviously have never been subjected to dozens of misdirected robo calls from debt collectors.
View this comment in the discussion thread
Moderator
5
Hi cathysceebs. CFPB has said that efficient and cost-effective methods of debt collection can allow creditors to give consumers more credit at lower prices. The agency has asked whether the FTC’s approach (at least 97% of calls must connect to a real person within 2 seconds of when the consumer answers) would be a good way to balance protecting consumers from the kinds of problems you’ve had with keeping collection costs down. What do you think?
View this comment in the discussion thread
Jim
6I understand your concern and desire to stop the calls that are not for you. No one should be spoken to with disrespect. Period. I dislike the fact that there isn’t a clearinghouse of sorts for phone numbers that would help eliminate the needless calls. Of course how would you stop a responsible party from adding their number to the NOT responsible list? It is also unproductive for collection calls to be made to wrong party consumers. There isn’t a benefit to anyone to spend time making these calls. There are many rules and regulations to keep collection agencies honest and legal. And there are consequences if they don’t. Do you know of any consequences to someone who gives out a bad phone number, address or even a name? I think we should all ban together to restore integrity in the world of credit and stop making excuses for people who want to get out of paying.
View this comment in the discussion thread
no.debt.here
7
I'm in the same situation--get calls about numerous people with my last name and one or the other of my two initials. None of the people being sought are even related to me, as far as I know, much less living with me. I would like to be able to make an official declaration that I have no delinquent debt and that I do not live with anyone who does. I'd be willing to renew the declaration once a year in order to stop receiving these calls that are nothing more than fishing expeditions.
View this comment in the discussion thread
Moderator
8
Just a reminder that the only question at this point is whether the draft summary missed, or misstated, something relevant in the comments that RegulationRoom participants made before CFPB’s public comment period closed on Friday, Feb. 28.
View this comment in the discussion thread