The Telephone Consumer Protection Act (TCPA) needs to be modernized. Created to curb abusive practices by telemarketers, its application to other industries is often strained. Along with a need for reform and modernization comes a need for interpretations of the law that are fair and reasonable in the context of the year 2013. In short, there needs to be some common sense.
Do you have a land line telephone? There's at least a moderately good chance that you don't.
If you do still have one, you likely know somebody who has opted to ditch their land line and handle everything with their cell phone. When they fill out forms for flights or online orders, they simply put the same number twice under "Home Phone" and "Cell Phone."
Imagine the surprise to a college freshman, in 2013, who comes to learn that they will still have an old-fashioned land line phone in their dorm room. Imagine how seldom it is used.
We have the same stated goals for the debt collection industry as Bill Bartmann, a self-anointed, self-promoting consumer debt collection savior. Sure, his profile is much larger and he is much more famous.
On Tuesday Richard Cordray, director of the Consumer Financial Protection Bureau (CFPB), testified before the Senate Committee on Banking, Housing, and Urban Affairs. Cordray delivered prepared comments as part of the semi-annual report to Congress. Of more pressing note were his responses to questions he received about the CFPB's ongoing efforts to address issues in the debt collection industry.
Today the Consumer Financial Protection Bureau (CFPB) announced that it will commence its rule-making process for the debt collection industry. Per Inside Arm, this begins with a 90-day comment period. This marks one step in a process that has the attention of both creditors and collection agencies in the coming months.
Bankruptcy can cause your credit score to decrease by more than 200 points – and is clearly one of the worst things that can happen to your finances. Being better aware of how credit scores treat bankruptcy can help minimize the impact of declaring bankruptcy and speed up your credit recovery.
Below are some of the most common myths associated with the credit killer, and how you can approach and overcome these common misconceptions.
Doing whatever you can to improve your credit score is always important. However, there are many misconceptions out there and all too often people gravitate toward them. These mistakes can lead to further credit card debt and can often worsen your credit rating – which exactly what you don’t want.
Below are the three of the biggest mistakes you can make when looking to improve your credit score:
Last month we noted a trend in lawsuits against collection agencies. While Fair Debt Collection Practices Act (FDCPA) suits were on the decline, Telephone Consumer Protection Act (TCPA) suit continued to rapidly increase.