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hegemony

CFPB may allow debt collectors to send you texts, emails

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Personally, I find telephone/cell calls way more annoying that spam text or email. The latter can be rather amusing because it doesn't interrupt anything I'm doing unlike an incoming call. They are impersonal and you don't feel the pressure of someone demanding this or that.

 

I suspect that debt collectors will be sadly disappointed if they think this will be an effective collection technique.

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So... I ask you if I can borrow some money and you agree to help me out, but you can't send me an email when I refuse to pay it back...

 

How does that make any sense?

 

:swoon: 

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4 hours ago, cv91915 said:

So... I ask you if I can borrow some money and you agree to help me out, but you can't send me an email when I refuse to pay it back...

 

How does that make any sense?

 

:swoon: 

I'll go as far as to say that any CA should be able to contact a debtor by any means that was permissible for the OC.

 

However, this sounds like there's a breadth involved that could see a flurry of junk emails comparable to the "hunter/seeker" collection calls that are targeted based upon the merest possible association with the debtor.  I don't want to wake up to a half dozen emails each morning, hunting for every "Porter" deadbeat in the book.

 

And I don't want to even think about texting implications ...

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I particularly liked this statement from the new Director:

 

The CFPB “cannot be everywhere, with everyone, at every transaction - nor should it try to be,” Kraninger said. “Empowering consumers to help themselves, protect their own interests ... is vital to preventing consumer harm and building financial well-being.”

 

I loosely translate that as the agency adopting a very cogent position that consumers need to stand on their own two feet and assume a measure of responsibility.  This is a good thing.

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I still occasionally receive phone calls from debt collectors looking for someone that apparently used to have my phone number. I've had the same number for more than ten years. If I start getting collection texts, I will have some fun replying to them.

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3 hours ago, centex said:

I particularly liked this statement from the new Director:

 

 

 

 

I loosely translate that as the agency adopting a very cogent position that consumers need to stand on their own two feet and assume a measure of responsibility.  This is a good thing.

 

I'll concede that much (not sure why the quoted text didn't "quote"). 

 

However, when the CFPB was first put in place, it looked to serve as a proactive counterbalance to the excessive leverage financial firms have when it comes to consumer disputes.  That was a good thing too ... and a stance that has been almost entirely abandoned as a consequence of the newer appointments to the bureau.

 

Wouldn't it be great if CFPB could target both goals in a reasoned, balanced fashion ...

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The problem the CFPB has is that they are not the legislature and cannot change the FDCPA. Emails are risky because  they take a risk of having someone other than the consumer read the email. Therefore, they cannot reveal any details about the debt. It is not the consumer's burden to make sure the collector follows the law and guard against violations, it is the collector's.

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