March 26, 2008

FTC Issues 2008 Fair Debt Collection Practices Report to Congress

Posted in Misc at 10:19 AM by Joe From Boston

This is slightly off topic, but many of you have complained of abusive practices from debt collectors. Well, the FTC just issued it’s annual report analyzing complaints made about 3rd party debt collectors. You might find it an interesting read, so I thought I’d share the link:

If you’re being harassed, let the FTC know.  Register an official complaint.  They can’t help you unless they know who needs helping.

Here’s an excerpt –

“The FDCPA prohibits deceptive, unfair, and abusive practices by third-party collectors. For the most part, creditors are exempt when they are collecting their own debts. The FDCPA permits reasonable collection efforts that promote repayment of legitimate debts, and the Commission’s goal is to ensure compliance with the Act without unreasonably impeding the collection process. The FTC recognizes that the timely payment of debts is important to creditors and that the debt collection industry offers useful assistance toward that end. The Commission also appreciates the need to protect consumers from those debt collectors who engage in abusive and unfair collection practices.”



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