The Consumer Financial Protection Bureau just opened its doors to consumer complaints about debt collectors. Between the CFPB, the Fair Credit Reporting Act dispute process, and the ability to sue abusive collectors under the Fair Debt Collection Practices Act, consumers facing abuse from debt collectors seem to be in a better position to address their issues than ever before. Complaints made to the CFPB go to the debt collector, who must address the problem within 15 days.
For those who wish to take matters in to their own hands, the CFPB has provided form letters for common collection situations: asking for more information, requesting an end to communication from the collector, restricting collector communication, and notifying a collector of legal representation.
And finally: attention debt collector employees! The CFPB has opened a page specifically for confidentially whistleblowing on collection abuses. If you are reading this and work for a debt collector who you believe breaks the law, please report it. Your job and the industry will be better for it.
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