Agree with RBell. Delinquent borrowers already almost always know they're delinquent so further notices are not productive. When notices are provided they should include the name of the original account holder and the full account number to establish a connection between any tier debt collector and the original account holder.
Off topic comment: Would like to see regulators approve email as a method of delivery for notifications. Most people keep their email even when they change physical addresses. Harder on the post office but probably much more effective, with no-cost proof of attempted contact.
Carowis
1
Agree with RBell. Delinquent borrowers already almost always know they're delinquent so further notices are not productive. When notices are provided they should include the name of the original account holder and the full account number to establish a connection between any tier debt collector and the original account holder.
View this comment in the discussion thread
Carowis
2
Off topic comment: Would like to see regulators approve email as a method of delivery for notifications. Most people keep their email even when they change physical addresses. Harder on the post office but probably much more effective, with no-cost proof of attempted contact.
View this comment in the discussion thread