Thank you for sharing your experience, cmfritts. CFPB is thinking about how it should address debts that have been turned over to collectors. You suggest that there should be some communication between the creditor and the debtor before engaging a collector. The current law says that debt collectors must send consumers a "validation notice" with information about the debt within 5 days after contacting them, so consumers can verify if they owe it or not. The current validation notice only gives the name of the current debt owner, the amount of the debt, and how consumers can challenge it. What additional information should be included in a notice when the owner of the debt turns it over to a collector? You can find out more about this matter and discuss with other commenters in the topic The "validation notice" sent to consumers.
You also mentioned that you challenged a debt, but other collectors are claiming this same debt without resolving it. The current law gives the right to dispute a debt, but it doesn't explain what "dispute" is. Do you think that if a consumer challenges a debt, as happened in your case, this should be considered a dispute? You can join other consumers who are discussing this problem in the topic When consumers dispute a debt, subtopic "What should count as 'dispute'?"
I agree and endorse what CMFritts says: This is the entire issue: all parties be above board and honest. But where does one find the most abuses? The most mistakes that can have a tremendous impact?
Uniformity in the law is a start, and when the abusers continue to make mistakes there should be financial sanctions against them.
Moderator
1
Thank you for sharing your experience, cmfritts. CFPB is thinking about how it should address debts that have been turned over to collectors. You suggest that there should be some communication between the creditor and the debtor before engaging a collector. The current law says that debt collectors must send consumers a "validation notice" with information about the debt within 5 days after contacting them, so consumers can verify if they owe it or not. The current validation notice only gives the name of the current debt owner, the amount of the debt, and how consumers can challenge it. What additional information should be included in a notice when the owner of the debt turns it over to a collector? You can find out more about this matter and discuss with other commenters in the topic The "validation notice" sent to consumers. You also mentioned that you challenged a debt, but other collectors are claiming this same debt without resolving it. The current law gives the right to dispute a debt, but it doesn't explain what "dispute" is. Do you think that if a consumer challenges a debt, as happened in your case, this should be considered a dispute? You can join other consumers who are discussing this problem in the topic When consumers dispute a debt, subtopic "What should count as 'dispute'?"
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gmt512
2
I agree and endorse what CMFritts says: This is the entire issue: all parties be above board and honest. But where does one find the most abuses? The most mistakes that can have a tremendous impact? Uniformity in the law is a start, and when the abusers continue to make mistakes there should be financial sanctions against them.
View this comment in the discussion thread