While ACA maintains that its 3,500 members have "long been committed to making debt collection a more consumer-friendly experience," its idea of friendly stretches credulity. While the consumer bureau has proposed that collectors limit phone attempts to reach debtors to six a week, the ACA's idea was quite different — to limit "collection call attempts to no more than six times per day per unique debt.” That adds up to 42 calls a week, multiplied by however many individual debts someone owes. Does that sort of harassment sound reasonable to anyone but a debt collector?
As the first step in a lengthy review process, the consumer bureau last month outlined proposals to prohibit collection of debts that can't be substantiated, require that collectors make debt details clear to debtors, make disputing a debt easy, and limit excessive communications to debtors. Neither consumer advocates nor industry representatives have fully embraced the ideas — which might mean the consumer bureau has hit the right balance.
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The article above does not take into consideration the thousands of illegal debt collection cases filed in state courts using counterfeit/manufactured documents. This is the easiest way to counter any rules being designed to protect consumers. This “Junk Debt Buyer” rogue industry is obtaining judgments using fraudulent meritless claims intended to extort money from consumers. The industry of collecting many paid in full debts through false documents and extortion has been operating unchecked, therefore filing meritless claims will continue as a huge growing profitable industry.
For years the courts have been “Rubber Stamping ” judgments for illegal debt collectors. The files contained in the local courts can be examined and the evidence of many illegal and meritless claims can be viewed on it face (unsubstantiated claims in most files). This is the “Well Known Dirty Secret” of the “Junk Debt Buying” industry which must stop.