CFPB Highlights Work of Legitimate Debt Collectors

The Consumer Financial Protection Bureau shares vital information about the actions of legitimate debt collectors working with consumers versus illegal scammers trying to collect payment.

11/20/2019 1:00 PM

CFPBNewsAdvocacy
CFPB Highlights Work of Legitimate Debt Collectors

In a new video, the Consumer Financial Protection Bureau highlights an issue third-party debt collectors and consumers equally struggle with: debt collection scams.

Consumers who receive a call from a scammer claiming a past-due amount is owed could fall victim to identity theft if they are not careful. A legitimate third-party debt collector will follow Fair Debt Collection Practices Act requirements and will want to work with consumers.

“Legitimate debt collectors want you to know who they are and how to contact them,” the video, depicting a consumer receiving a call from a scammer, states.

The video notes consumers can expect legitimate collectors to help them come up with a manageable payment plan.

“The Consumer Financial Protection Bureau’s messaging is critical for educating consumers about how to avoid bad actors and clarifying the important role legitimate collectors play in helping consumers and creditors resolve accounts,” said ACA International CEO Mark Neeb.

The CFPB’s video also highlights questions consumers should ask when they get a suspected scam call and the answers legitimate debt collectors would provide as required by the FDCPA; such as the amount of the debt, the name of their company and the creditor, their address and a call back number.

ACA International recently covered consumer tips on debt collection in ACA Cast with Jessica Hearn,  the chief financial officer and compliance director with Universal Fidelity in Katy, Texas, “Why is a Debt Collector Calling Me?”; and “Identity Theft: Don’t Fall Victim to the Threat.”

Subscribe to ACA Cast on Apple Podcasts  - Spotify  - Overcast  - TuneIn  - Stitcher  - Buzzsprout 

If you enjoy listening to ACA Cast, please take a moment and help us by leaving a rating and review on iTunes and sharing this podcast with others in accounts receivable management industry.


Follow ACA International on Twitter @ACAIntl and @acacollector, Facebook and request to join our LinkedIn group for news and event updates. ACA International members are welcome to submit news items for possible publication to comm@acainternational.org. Visit our publications page for news submission guidelines and subscriptions to ACA Daily, Collector magazine and Pulse.

Advertising is available for companies wishing to promote their products or services. Be sure to visit the ACA Events Calendar on the Education and Training page to view our listing of upcoming CORE Curriculum and Hot Topic seminars featuring critical educational opportunities for your company.


Subscribe to ACA Daily NEWSROOM

CFPB Highlights Work of Legitimate Debt Collectors

In a new video, the Consumer Financial Protection Bureau highlights an issue third-party debt collectors and consumers equally struggle with: debt collection scams.

Consumers who receive a call from a scammer claiming a past-due amount is owed could fall victim to identity theft if they are not careful. A legitimate third-party debt collector will follow Fair Debt Collection Practices Act requirements and will want to work with consumers.

“Legitimate debt collectors want you to know who they are and how to contact them,” the video, depicting a consumer receiving a call from a scammer, states.

The video notes consumers can expect legitimate collectors to help them come up with a manageable payment plan.

“The Consumer Financial Protection Bureau’s messaging is critical for educating consumers about how to avoid bad actors and clarifying the important role legitimate collectors play in helping consumers and creditors resolve accounts,” said ACA International CEO Mark Neeb.

The CFPB’s video also highlights questions consumers should ask when they get a suspected scam call and the answers legitimate debt collectors would provide as required by the FDCPA; such as the amount of the debt, the name of their company and the creditor, their address and a call back number.

ACA International recently covered consumer tips on debt collection in ACA Cast with Jessica Hearn,  the chief financial officer and compliance director with Universal Fidelity in Katy, Texas, “Why is a Debt Collector Calling Me?”; and “Identity Theft: Don’t Fall Victim to the Threat.”

Subscribe to ACA Cast on Apple Podcasts  - Spotify  - Overcast  - TuneIn  - Stitcher  - Buzzsprout 

If you enjoy listening to ACA Cast, please take a moment and help us by leaving a rating and review on iTunes and sharing this podcast with others in accounts receivable management industry.


Follow ACA International on Twitter @ACAIntl and @acacollector, Facebook and request to join our LinkedIn group for news and event updates. ACA International members are welcome to submit news items for possible publication to comm@acainternational.org. Visit our publications page for news submission guidelines and subscriptions to ACA Daily, Collector magazine and Pulse.

Advertising is available for companies wishing to promote their products or services. Be sure to visit the ACA Events Calendar on the Education and Training page to view our listing of upcoming CORE Curriculum and Hot Topic seminars featuring critical educational opportunities for your company.


Subscribe to ACA Daily NEWSROOM

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