I disagree. The problem with reputation is really two fold: 1) yes, nobody likes debt collectors just like nobody likes dentists -- this is just the nature of the profession; and 2) the problem is that debt collectors think of their profession as "us versus them" or "them versus us" and this is wrong and is the reason why debt collectors operate in illegal and abusive manners.
Tiffany, I think part of the problem is that the 2% of collectors who harass and abuse are responsible for a disproportionate share of the contacts that consumers have with your industry. Everyone (whether they owe a debt or not) has had an encounter with one of these bad apples, and then they want to take out their anger on you. And when you make an honest mistake and get sued for a technical violation, you pay the same penalty as a company that has deliberately harassed someone with 100 phone calls.
Thanks for your comment, Tiffany Spangler. One of the goals of the Fair Debt Collection Practices Act is to make sure that responsible debt collectors aren’t driven out of business by companies that get results by using abusive tactics. Would it help legitimate collection activity if CFPB make a rule that defined how many and what kinds of contacts are not harassment?
Would it help to have a new federal rule that requires the owner of the debt to promptly tell the collector to stop collection activity if the owner has received payment?
stopwithspoofedcallerID
1
I disagree. The problem with reputation is really two fold: 1) yes, nobody likes debt collectors just like nobody likes dentists -- this is just the nature of the profession; and 2) the problem is that debt collectors think of their profession as "us versus them" or "them versus us" and this is wrong and is the reason why debt collectors operate in illegal and abusive manners.
View this comment in the discussion thread
sw_in_the_midwest
2
Tiffany, I think part of the problem is that the 2% of collectors who harass and abuse are responsible for a disproportionate share of the contacts that consumers have with your industry. Everyone (whether they owe a debt or not) has had an encounter with one of these bad apples, and then they want to take out their anger on you. And when you make an honest mistake and get sued for a technical violation, you pay the same penalty as a company that has deliberately harassed someone with 100 phone calls.
View this comment in the discussion thread
Moderator
3
Thanks for your comment, Tiffany Spangler. One of the goals of the Fair Debt Collection Practices Act is to make sure that responsible debt collectors aren’t driven out of business by companies that get results by using abusive tactics. Would it help legitimate collection activity if CFPB make a rule that defined how many and what kinds of contacts are not harassment?
View this comment in the discussion thread
Moderator
4
Would it help to have a new federal rule that requires the owner of the debt to promptly tell the collector to stop collection activity if the owner has received payment?
View this comment in the discussion thread