Thanks for coming to RegulationRoom and sharing your story, paperbag. Requiring debt collectors to send validation notices by certified mail may result in more people getting notices, but it would also cost more money for debt collectors. These costs may be passed on to consumers in the form of higher interest rates. With that in mind, what do others think? Would the benefits of certified mail outweigh the costs to consumers?
Thank you for your suggestion, paperbag. CFPB wants to hear more about consumers' experiences with debt collection. Did you or someone you know ask for accommodations because of a disability? What kinds of accommodations do you think collection agencies need to make to help consumers with disabilities?
Thank you for your reply, paperbag. The state of Massachusetts has a rule that only lets debt collectors call twice in a seven day time period, which you can read more about here under the subsection "Repetitive calls and robo-calls." Do you think that this would help solve the problem for people who are sensitive to stress because of medical conditions? Or are there other protections people with these medical conditions would need?
Moderator
1
Thanks for coming to RegulationRoom and sharing your story, paperbag. Requiring debt collectors to send validation notices by certified mail may result in more people getting notices, but it would also cost more money for debt collectors. These costs may be passed on to consumers in the form of higher interest rates. With that in mind, what do others think? Would the benefits of certified mail outweigh the costs to consumers?
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Moderator
2
Thank you for your suggestion, paperbag. CFPB wants to hear more about consumers' experiences with debt collection. Did you or someone you know ask for accommodations because of a disability? What kinds of accommodations do you think collection agencies need to make to help consumers with disabilities?
View this comment in the discussion thread
Moderator
3
Thank you for your reply, paperbag. The state of Massachusetts has a rule that only lets debt collectors call twice in a seven day time period, which you can read more about here under the subsection "Repetitive calls and robo-calls." Do you think that this would help solve the problem for people who are sensitive to stress because of medical conditions? Or are there other protections people with these medical conditions would need?
View this comment in the discussion thread
RHN91362
4
This is not an appropriate requirement because not all states have licensing or registration for debt collectors.
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