FTC Holds workshop on overhauling the FDCPA
Date: Thu, 03/19/2009 - 11:25
http://www.ftc.gov/bcp/workshops/debtcollection/dcwr.pdf
I like this part so far. "the FTC recommends that Section 80
I like this part so far.
"the FTC recommends that Section 809(a) of the FDCPA be amended to require that debt collectors obtain and provide in the ???validation notices??? they send to consumers: (1) the name of the original creditor; and (2) an itemization of (a) the principal, (b) the total of all interest, and (c) the total of all fees and other charges that make up the debt."
This is good also. "Based on the workshop record and its expe
This is good also.
"Based on the workshop record and its experience, the agency recommends that Congress amend the FDCPA to require debt collectors to include in all validation notices an itemization of: (1) the principal; (2) the total of all interest; and (3) the total of all fees and other charges added. Consumer advocates stated that such a requirement would provide significant benefits to consumers."
Well after a long read, I see that 90% of the workshop report fa
Well after a long read, I see that 90% of the workshop report favors the consumer. So lets hope that they will get this updated.
We can only hope but remember, it would still have to go thru th
We can only hope but remember, it would still have to go thru the "good-ole boy" network......hmmhmm...I mean Congress and you can be quite sure that the ACA, the Debt Buyers and the scum sucking bottom feeders coalition are going to be doing some powerful bribing...I mean lobbying.
OH Yeah I know all about the deep pockets there. Come I am from
OH Yeah I know all about the deep pockets there. Come I am from Illinois where we have a state government with the deepest pockets. LOL So I am not holding my breath, but it would be nice to see these things become active.