All Consumers In The U.S.
Protecting Consumers in Debt Collection Litigation and Arbitration: A Series of Roundtable Discussions" - August, September, and December, 2009
In all the case law that I have read in regards to debt collection lawsuits and arbitration nationwide, I have only seen this question posed in one court case, and the consumer defendant won. How can a Junk Debt Buyer and/or Collection Agency, who is not licensed as a Bank or Financial Lending Institution, enforce a contract which is written and based on financial and banking laws? When they purchase a debt how can they charge any interest at all when they are not a licensed financial institution and yet courts all over the country allow them to add, sometimes, years of interest to the debt prior to awarding them a judgment. I also don't understand how Junk Debt Buyers and Collection Agencies don't fall under the financial institution "umbrella" considering they handle consumers most sensitive information (their financial information) all the while the industry is riddled with employees with criminal histories. How come Banks and Financial Institutions are regulated to prevent employees with criminal backgrounds and then they hand over consumers sensitive information to Collection Agencies and Junk Debt Buyers no questions asked. If a Collection Agency is an agent of a Bank or Financial Institute, then aren't they circumventing Federal Regulations by not ensuring the Collection Agency is compliant with Federal Regulations? If debt collection lawsuits could only be filed in Federal Court then Congress could make it mandatory for Federal Judges to verify it's within Statutes Of Limitations and that the proper evidence was filed with the original complaint in cases of a Default Judgment as we are supposed to be going by the least sophisticated consumer standard and I would believe its Congress' duty to look after them based on this principle. The penalty for violating the FDCPA should be increased to $10,000, $20,000, or even $50,000 per violation and damages, plus costs and attorney fees. The $1,000 punishment is no incentive for any company to be compliant with the law when you're considering millions, billions, and even trillions of dollars of debt. I also wanted to know, if I email a cease communication letter to a business email listed on the company's website or with the BBB's website, does this comply with the law considering it is a written instrument and I did request it in writing. I have several collectors calling me for someone I don't know, so why should it cost me $6 for certified mail for each one calling when I've told them all several times they have the wrong number and they refuse to leave me alone. Email and fax notification should be added to the FDCPA. Consumers should be able to dispute the debt anytime and request validation anytime and there should be a 60-90 day time limit to provide validation and validation should be actual proof, such as a statement or agreement, not just the original creditors say so. Collectors should never be allowed to call your work, it should be banned by the FDCPA, I will never understand why that was ever allowed. Collectors should only be allowed to call every other day.