lundi 16 septembre 2013

Debt Collection Services & The Importance Of The FDCPA

By Robbie Sutter


Debt collection services stand strong but in order for them to do so, they need a foundation that is worth taking into consideration as well. This has to be immensely robust because it seems like the amount of services does not show any signs of lessening at all. What is the primary source of this structure, though, and why is it such an important factor? For those who are curious about either of these ideas, I'd like to direct your attention to the Fair Debt Collection Practices Act.

The idea of the Fair Debt Collection Practices Act may go over the heads of those who have never been involved in debt, so allow me to grant something of a general idea. Basically, the FDCPA is seen as the rulebook for collectors, showcasing a number of regulations that they have to abide by. As you can imagine, each of them holds a great deal of weight. What you may not have thought, however, is the idea that they can assist debtors in addition to workers.

The FDCPA is able to do a number of things right and these are shown within the collection process, too. Yes, collectors are better able to understand the rules that they have to follow but is it possible for debtors to earn a learning experience as well? I believe that this is especially true when you see that collectors are only allowed to contact debtors generally between 8 AM and 9 PM. This is but one example that can be correlated to the FDCPA.

What about the idea of communication between debtor and collector and the methods that are seemed most appropriate? You may not think that there are such ways that are called "inappropriate" but consider that agencies like Rapid Recovery are knowledgeable as far as the rules are concerned. They know that while phone calls and email work well, postcards are not. This is yet another example and one that can be tied into the work that debt collection services can, in time, bring to the surface.

When it comes to scope, the Fair Debt Collection Practices Act possesses a great instance of it. The rules talked about before are just a couple and there are others that can help in such matters as debt collection services. To say that the FDCPA is extensive would be an understatement and I think that it is worth researching even further. If you find that this topic is worth your time, then you may be surprised by what else you are able to pick up on.




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