Welcome to RegulationRoom tommc4. CFPB would like to know what kind of additional information would help consumers recognize the debt, and recognize how much they owe. Keep in mind though, that requiring debt collectors to provide more documents will increase their costs, and these costs are often passed down to consumers. On the other hand, having more information is very important to consumers. Given this balance, what kinds of information do you think are the most essential? You can comment on CFPB's questions and ideas about the validation process here.
Moderator
1
Welcome to RegulationRoom tommc4. CFPB would like to know what kind of additional information would help consumers recognize the debt, and recognize how much they owe. Keep in mind though, that requiring debt collectors to provide more documents will increase their costs, and these costs are often passed down to consumers. On the other hand, having more information is very important to consumers. Given this balance, what kinds of information do you think are the most essential? You can comment on CFPB's questions and ideas about the validation process here.
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tommc4
2
That should be $1000 not $100. Sorry I missed that!
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Moderator
3
Thanks for notifying us, tommc4. I know we've been in contact directly about this, but please let us know if you have any additional problems.
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