Debt collectors are very experienced at what they do. Consumers and defendants often have little or no experience with fighting a debt collector. They have no idea what their rights and defenses are. I strongly recommend the CFPB to require all debt collectors to provide consumers with their basic rights. The rights could be state-specific or federal. For example, New York collectors should be required to advise that there is a statute of limitations that may be based on where the defendant is located or where the original creditor is located, whichever one is less. They should also be required to advise what the statute of limitations means. Plaintiffs or their counsel should be required to inform the defendant that he or she has the right to deny the allegations in the complaint and then require the plaintiff to prove its case. Defendant's should also be advised that he or she may demand documents from the plaintiff and require the plaintiff to answer questions about the account (i.e. is it owned by the original creditor or debt buyer? How much interest was charged? When was the last payment? Etc.) Other important rights and defenses could be related to FDCPA rights or, in the subject state, how they may have the right to vacate a default judgment if they have a reasonable excuse and meritorious defense. Other requirements that the CFPB should consider: Require collectors and collection law firms to provide copies of pleadings, judgments and affidavits of service within seven days of a demand by an individual or an attorney when a judgment creditor attempts to enforce a default judgment. Require lawsuits to include the original contract and documents showing a valid chain of title. At the very least, help consumers understand the law, their rights and their defenses. Thank you for your hard work.
Jeffrey Shepro Esq
1
Debt collectors are very experienced at what they do. Consumers and defendants often have little or no experience with fighting a debt collector. They have no idea what their rights and defenses are. I strongly recommend the CFPB to require all debt collectors to provide consumers with their basic rights. The rights could be state-specific or federal. For example, New York collectors should be required to advise that there is a statute of limitations that may be based on where the defendant is located or where the original creditor is located, whichever one is less. They should also be required to advise what the statute of limitations means. Plaintiffs or their counsel should be required to inform the defendant that he or she has the right to deny the allegations in the complaint and then require the plaintiff to prove its case. Defendant's should also be advised that he or she may demand documents from the plaintiff and require the plaintiff to answer questions about the account (i.e. is it owned by the original creditor or debt buyer? How much interest was charged? When was the last payment? Etc.) Other important rights and defenses could be related to FDCPA rights or, in the subject state, how they may have the right to vacate a default judgment if they have a reasonable excuse and meritorious defense. Other requirements that the CFPB should consider: Require collectors and collection law firms to provide copies of pleadings, judgments and affidavits of service within seven days of a demand by an individual or an attorney when a judgment creditor attempts to enforce a default judgment. Require lawsuits to include the original contract and documents showing a valid chain of title. At the very least, help consumers understand the law, their rights and their defenses. Thank you for your hard work.
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