Why The CFPB's Position On Time-Barred Debt Is Bad For Consumers
FDCPA Defense
MAY 27, 2014
Does a consumer need to be “protected” from repaying his own debts? Can a consumer be “harmed” if he voluntarily makes a payment on a debt that he admittedly owes? The CFPB apparently believes that sometimes the answer is “yes.” The CFPB and the FTC have forcefully argued that debt collectors should make an affirmative disclosure to consumers when they are seeking to collect debts that cannot be judicially enforced, and that the failure to make this disclosure may violate the FDCPA.
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