Tag Archives: debt collectors

Combating Harmful Debt Collection Practices: Debt Collectors Respond

The Consumer Financial Protection Bureau (CFPB) has put debt collection companies on notice against harmful debt collection practices. CFPB has also released new tools to help consumers communicate with debt collectors and resolve collection complaints.

CFPB explains that most collection firms treat consumers fairly, but the ones that don’t “can cause financial harm to consumers and undermine the financial marketplace.” The bureau is in the business of protecting consumers. It warns debt collectors that “any entity that is subject to the Consumer Financial Protection Act of 2010 is legally required to refrain from committing unfair, deceptive, or abusive acts or practices that would violate the Act.”

The “Action Letters” Continue reading Combating Harmful Debt Collection Practices: Debt Collectors Respond