Keep in mind, a cease and desist letter does not stop a debt collector from attempting to collect a debt, it only stops the debt collector from communicating with the consumer via whatever method the consumer requests the contact to stop. This does not mean a consumer no longer owes a debt. I do agree with the fact that a debt collector must notify the creditor of disputes. As a matter of fact, legitimate debt collectors do this on a regular basis. As a debt collector typically does not own the debt, they're unable to control what a creditor does with that information, all they are currently able to do is implement internal controls that protect the consumer and the agency. In my opinion, a legitimate dispute should be defined as currently, a consumer solely mentioning the word dispute requires action on an account. I believe some sort of requirement should be imposed as to WHY an account is being disputed and some sort of evidence be provided to support the claim.
Hi javalaw03. Welcome to RegulationRoom, and thank you for joining the conversation. You may want to look at CFPB's sample letters for responding to debt collectors, as well as CFPB's website for submitting complaints about individual collectors. In addition, CFPB wants to know if consumers need information about their rights, like how to dispute a debt, in the validation notice. What information would be helpful to you? You can read more about what CFPB is suggesting under our validation notice topic post. CFPB is also asking how information should be transferred from one collector to another. You can read about the agency's questions and share the issues you've raised under the topic post Making sure debt collectors & buyers have info about the debt.
DLin
1Keep in mind, a cease and desist letter does not stop a debt collector from attempting to collect a debt, it only stops the debt collector from communicating with the consumer via whatever method the consumer requests the contact to stop. This does not mean a consumer no longer owes a debt. I do agree with the fact that a debt collector must notify the creditor of disputes. As a matter of fact, legitimate debt collectors do this on a regular basis. As a debt collector typically does not own the debt, they're unable to control what a creditor does with that information, all they are currently able to do is implement internal controls that protect the consumer and the agency. In my opinion, a legitimate dispute should be defined as currently, a consumer solely mentioning the word dispute requires action on an account. I believe some sort of requirement should be imposed as to WHY an account is being disputed and some sort of evidence be provided to support the claim.
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Hi javalaw03. Welcome to RegulationRoom, and thank you for joining the conversation. You may want to look at CFPB's sample letters for responding to debt collectors, as well as CFPB's website for submitting complaints about individual collectors. In addition, CFPB wants to know if consumers need information about their rights, like how to dispute a debt, in the validation notice. What information would be helpful to you? You can read more about what CFPB is suggesting under our validation notice topic post. CFPB is also asking how information should be transferred from one collector to another. You can read about the agency's questions and share the issues you've raised under the topic post Making sure debt collectors & buyers have info about the debt.
View this comment in the discussion thread