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Reg F Did Little to Push Agencies Into Using Email, Text: Survey

Account Recovery

Regulation F has had “little effect” on the communication methods used by third-party debt collectors, with email communications placing a “distant third” behind letters and phone calls attempting to get in touch with consumers to pay their unpaid debts, according to a report released yesterday by TransUnion on the third-party (..)

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Bill Introduced in Congress to Expand FDCPA to Cover Small Businesses

Account Recovery

A bill has been introduced in Congress that would expand the Fair Debt Collection Practices Act to cover small business debts in order to protect those companies from “harassment” by third-party debt collectors, according to the bill’s sponsor.

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NYDFS Issues Amendments to Debt Collection Rules; Comment Period Open Until Next Week

Account Recovery

The New York Department of Financial Services has issued a series of amendments to its debt collection rules for third-party debt collectors and debt buyers that could change how consumers are communicated with, including the information that must be provided after an initial communication is made.

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Daily Digest – November 2. NYDFS Proposes Debt Collection Rule Changes; Judge Grants MTD in FDCPA Case Over Credit Reporting Language

Account Recovery

NYDFS ISSUES AMENDMENTS TO DEBT COLLECTION RULES; COMMENT PERIOD OPEN UNTIL NEXT WEEK The New York Department of Financial Services has issued a series of amendments to its debt collection rules for third-party debt collectors and debt buyers that could change how consumers are communicated with, including the information that must be provided after (..)

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NCLC Petitions CFPB For Rule Regulating Credit Reporting by Collectors

Account Recovery

The National Consumer Law Center has submitted a petition to the Consumer Financial Protection Bureau requesting that original creditors be responsible for furnishing information related to debt collection activity undertaken by third-party debt collectors or debt buyers, and that collectors should be required to review documents like the original (..)

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What New Debt Collector Rules Mean for You

Nerd Wallet

Working with third-party debt collectors can be confusing and scary. adults with debt in collections, knowing their legal rights is crucial. The Fair Debt Collection Practices Act covers third-party debt collectors — those who buy a delinquent debt from an original creditor, like a credit card company.

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What Is a Debt Collector?

Nerd Wallet

A debt collector is a person, agency or company responsible for collecting money owed, usually on a past-due account. Lauren Schwahn writes for NerdWallet. Email: lschwahn@nerdwallet.com.