BUT, they need to hear from consumers- that means you! We have an easy-to-use page where you can weigh in- it only takes a minute and will help bring about important consumer protections with these loans. Please share a line or two in the comments box about why you care about this issue and want to see strong federal reforms.
The Consumer Financial Protection Bureau has asked the public to share their recommendations on rules they are designed for debt collectors. If you’ve ever had a bad experience with a debt collector, (like harassing phone calls, calling the wrong person, making up amounts that you owe, etc) then you should spend 5 minutes to share your experience with the CFPB. (Click here to add your comments). Your five minutes today can help ensure that consumers aren’t left behind when these rules are designed. There’s not much time left- comments are due by February 28, 2014.
There are more stories out there, and the CFPB needs to hear them.
These are five example of some of the more obnoxious debt collector tactics:
1) Threatening a senior citizen that you’ll put them in jail if they don’t pay their debts.
2) Calling a cell phone company and impersonating a person’s father in order to be added to their cell phone account in order to get personal details about them, and then sending text messages to them calling them “Fat Pig” and a “200 pound slob.”
3) Sending an Illinois breast cancer survivor to jail for a debt she didn’t owe.
4) Using racial slurs (while racist, illegal, and obnoxious, the good news is that the recipient of these calls successfully sued the debt collector for $1.5 million).
5) Threatening to dig up a dead family member’s body.
If you’ve had similar bad experiences with a debt collector, NOW is the time to speak up. It’s a very simple process- you simply visit this website and share your experience by clicking on “COMMENT NOW.” If you have suggestions on how the CFPB can design the rules, be sure to include them.
The clock is ticking- the CFPB is only accepting comments until February 28, 2014.