It seems to me no one should have to deal with more than they already have during this challenging and, well I am just going to call it for what it is; evil year. As this year comes to a close, we are watching the Obama appointed administration; The Consumer Financial Protection Bureau, roll back more protections for consumers.
At the end of 2021 the joke of an agency as they are; the CFPB is rolling back, yet again more protections that once upon a time existed FOR consumers. Historically, debtors’ identities were protected. When a collection agency sent a letter to a debtor in the mail, the name of the collection agency was not allowed to be on the envelope. This was to keep any debt personal, even from the mailman.
Now, these days are coming to an end.
The new rollback; now debt collectors can contact the debtor through means of social media, texting and even email. However; to understand how this is a pull back, let me take you down what once was.
In addition to the privacy of mailing a letter to a debtor, when a debt collector contacted a debtor via telephone, the only message they could leave is their personal name, and the return phone number. At most they were allowed to say to call back regarding “a personal matter”.
Since this new anti-consumer agency; the CFPB has not yet rolled out this new consumer-protection rollback; no one knows what exactly this means. Will debt collectors be able to announce to the world on one’s social media they owe a debt and they better pay up? Will these rapacious collectors slam the consumer’s email multiple times? Will consumers be able to opt out?
Of course as we watch California roll back laws such as trespassing, theft, drugs or looting. You know, all the things that are “illegal”. So why not strip consumers of protections against third party collection agencies who are notorious for collecting false debts, harassing consumers, reporting inaccurate accounts to consumer credit reports, and many many more horrible tactics which is why the FDCPA was created to begin with in 1978.
Protect and arm yourself with knowledge. Before you are forced to pay something that you may not even owe, or is out of statute of limitation, know your rights. Start with demanding to see “proper” validation of debt. WITH your signature. Make sure you know the statute of limitation in your state, or the state in which the debt was opened.
I will be reviewing the new “no protection for consumers” rule and will keep everyone informed as the changes roll out. If you would like to sign up to receive text alerts on changes or newsletters; sign up at www.your850.com.