FTC Workshop: Debt Collection 2.0: Protecting Consumers As Technology Changes, Project No. P114802 #00023 

Submission Number:
00023 
Commenter:
Balaji Rajan
Organization:
FMS Investment Corp
State:
Illinois
Initiative Name:
FTC Workshop: Debt Collection 2.0: Protecting Consumers As Technology Changes, Project No. P114802

The FTC limitation on debt collectors calling cellular telephones using auto-dialers causes issues for Federal loans and assets - both in servicing and in collection of the same. Considering that at least 20 percent of households now do not use a land-line telephone, the impact is well in excess of $3 -$5 Billion in collections. It also prevents proper, efficient servicing because it increases the costs for the servicers, not to mention the litigation settlements. The Government will do well to review the impact to itself, at a time when budget issues are imperative. This is an arcane law and should be reviewed and changed appropriately.