Thank you for your comment, Jerry. Are you saying that problems with information transfer between debt collectors can lead to issues like trying to collect on paid debts? Do you think this could be prevented by keeping track of the right information?
CFPB is asking questions about what kind of information debt collectors should keep track of, and what documents consumers should be given. You can join others who are talking about CFPB’s questions and ideas about this topic here.
The majority of the time, when a debt has been paid off, it has been paid to the client, not the collection agency. Most of that time when that debt has been paid to the client, the client neglects to report it to the agency. So the collectors continue to call on a paid debt that they have no knowledge of. It's really not the collectors fault, it is generally the client's.
Moderator
1
Thank you for your comment, Jerry. Are you saying that problems with information transfer between debt collectors can lead to issues like trying to collect on paid debts? Do you think this could be prevented by keeping track of the right information?
CFPB is asking questions about what kind of information debt collectors should keep track of, and what documents consumers should be given. You can join others who are talking about CFPB’s questions and ideas about this topic here.
View this comment in the discussion thread
Tiffany Spangler
2
The majority of the time, when a debt has been paid off, it has been paid to the client, not the collection agency. Most of that time when that debt has been paid to the client, the client neglects to report it to the agency. So the collectors continue to call on a paid debt that they have no knowledge of. It's really not the collectors fault, it is generally the client's.
View this comment in the discussion thread