Welcome to Regulation Room Mr. Shepro and thank you for your thoughtful comments. The CFPB is concerned about costs being passed onto consumers because of new regulations. Do you have suggestions on how to give consumers this information in the most cost-effective way? Do any other commenters have suggestions to add? Does anybody agree or disagree?
I knew my rights and yet, the debt lawyer stated 1) he did not have to show me the original debt and 2) he could not and would not talk to me because I was pro se.
Debt collectors are very knowledgable in what they do. We are professionals. But debtors are not stupid and should be expected to do their own research and educate themselves to participate in their defense. Why should a creditor have to explain to a debtor how to avoid paying their debt. By the time it's reached litigation, those conversations should have already occured and the debtor should be ready to offer his defense without being "taught" by the person to whom he owes money.
In other words, remove any liability the consumer may have for resoloving a debt? We live in the Information Age. All the information this individual is requesting is readily available with a few keystrokes.
This is solid foundational advice, however, as I have heard a judge state in court (not to me), "a debt is a debt", and "a default is a default", and, "you probably owe the money". Until INVOLUNTARY defaulters have a way to freeze their debt at the time of the default, with no more interest rate charges, penalties or fees accruing, in my opinion nothing substantive will really change and the global economy creeps closer to the brink. see link. Global Debt Elephant in the Room.
It sounds like you believe the creditor/debt collector's attorney should be responsible for giving legal advice to the consumer (i.e. the opposing party). This is a serious conflict of interest and a violation of his duties to his client. Even worse, it sounds like you also want debt collectors who are NOT attorneys or employed by attorneys to also give legal advice to consumers. This is a violation of the prohibition on the unauthorized practice of law. I understand that the ignorance and lack of sophistication exhibited by defendant debtors is a concern. I recommend that the CFPB develop a model notice of rights under the FDCPA. If it so chooses, it can also maintain on its website an area for state-specific resources related to State laws, and reference this website on the form notice.
Moderator
1
Welcome to Regulation Room Mr. Shepro and thank you for your thoughtful comments. The CFPB is concerned about costs being passed onto consumers because of new regulations. Do you have suggestions on how to give consumers this information in the most cost-effective way? Do any other commenters have suggestions to add? Does anybody agree or disagree?
View this comment in the discussion thread
From_ill_annoy
2
I knew my rights and yet, the debt lawyer stated 1) he did not have to show me the original debt and 2) he could not and would not talk to me because I was pro se.
View this comment in the discussion thread
Aturk
3
Debt collectors are very knowledgable in what they do. We are professionals. But debtors are not stupid and should be expected to do their own research and educate themselves to participate in their defense. Why should a creditor have to explain to a debtor how to avoid paying their debt. By the time it's reached litigation, those conversations should have already occured and the debtor should be ready to offer his defense without being "taught" by the person to whom he owes money.
View this comment in the discussion thread
Aaron Racicot
4
In other words, remove any liability the consumer may have for resoloving a debt? We live in the Information Age. All the information this individual is requesting is readily available with a few keystrokes.
View this comment in the discussion thread
Debt Neutrality Petition
5
This is solid foundational advice, however, as I have heard a judge state in court (not to me), "a debt is a debt", and "a default is a default", and, "you probably owe the money". Until INVOLUNTARY defaulters have a way to freeze their debt at the time of the default, with no more interest rate charges, penalties or fees accruing, in my opinion nothing substantive will really change and the global economy creeps closer to the brink. see link. Global Debt Elephant in the Room.
View this comment in the discussion thread
RHN91362
6
It sounds like you believe the creditor/debt collector's attorney should be responsible for giving legal advice to the consumer (i.e. the opposing party). This is a serious conflict of interest and a violation of his duties to his client. Even worse, it sounds like you also want debt collectors who are NOT attorneys or employed by attorneys to also give legal advice to consumers. This is a violation of the prohibition on the unauthorized practice of law. I understand that the ignorance and lack of sophistication exhibited by defendant debtors is a concern. I recommend that the CFPB develop a model notice of rights under the FDCPA. If it so chooses, it can also maintain on its website an area for state-specific resources related to State laws, and reference this website on the form notice.
View this comment in the discussion thread