Sat.May 03, 2014 - Fri.May 09, 2014

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Is The CFBP's Position On Credit Reporting Statements Consistent With The Case Law?

FDCPA Defense

The CFPB does not want debt collectors to tell consumers that paying their debts might help them to improve their credit score. Nor does the CFPB want collectors to encourage consumers to pay by informing them that their failure to do so might harm their credit. The Bureau made this point crystal clear in the Bulletin that it issued in July 2013 entitled “ Representations Regarding Effect of Debt Payments on Credit Reports and Scores ” where it claimed that making such statements might amount to