Question: How can I find out if the debt collection agency I’m speaking with is a legitimate company?
Answer: The most effective way is to go to website of the Secretary of State’s office in which the debt collection agency is located and see if they agency is registered as a business in that state.
In response to recent news reports about debt collection scams, ACA International offers the following tips for consumers to identify legitimate collection activities.
“Unscrupulous scams hurt consumers and unnecessarily impedes legitimate debt collection efforts,” said ACA International CEO Pat Morris. “The recovery of consumer debt is vitally important to our local, state and national economies. Those who purposely violate the law to exploit consumers should be held fully accountable for their actions.”
In addition to federal and state regulatory oversight of the debt collection industry and state law, the federal Fair Debt Collection Practices Act (FDCPA) outlines several important items that consumers can use to discern a legitimate attempt to recover a debt. Generally:
Consumers should also take great care when giving out personal information including a credit card, bank account or Social Security number until certain of the authenticity of the other party. Consumers should monitor his/her credit report, as well as accounts and immediately report any suspicious or unauthorized purchases to the bank or credit card provider. If a consumer believes his/her identity has been stolen, [s]he should contact the local police department and visit www.ftc.gov/idtheftfor information on what to do.
“Debt collectors are not an enemy of consumers,” Morris said. “We are advocates for protecting consumer rights while balancing the ability to recover rightfully owed obligations that maintain America’s credit-based economy.” For more information about working with a debt collector visitwww.askdoctordebt.org.” - ACA International
New FCC rules provide more stringent regulations on telemarketing calls.
In February 2012, the Federal Communications Commission (FCC) issued new rules under the Telephone Consumer Protection Act (TCPA) that further distinguish between telemarketing calls and non-telemarketing calls. One of the main amendments will soon become effective, but will primarily impact telemarketers, not debt collectors.
Effective Oct. 16, 2013, persons must obtain a consumer’s “prior express written consent” in order to make telemarketing calls to a wireless number using an automatic telephone dialing system or prerecorded voice, or to residential lines using a prerecorded voice. Notably, this new prior express written consent requirement does not apply to non-telemarketing calls(such as debt collection calls). Although debt collectors still need “prior express consent” to use an automatic dialing system or prerecorded voice to call a consumer’s wireless number, such consent is not expressly required to be in writing.
The 2012 FCC ruling also eliminated the established business relations exemption for calls to residential lines, which allowed for prerecorded calls to residential lines without obtaining the consumer’s express consent. However, debt collection calls that are made to residential lines will still fall under an exemption for calls that are “made for a commercial purpose but that do not include or introduce an unsolicited advertisement or constitute a telephone solicitation…” Therefore, debt collection calls to residential lines should not be impacted by the change—debt collectors may continue to make prerecorded voice calls to a consumer’s residential line without obtaining the consumer’s prior express consent.
Overall, the new regulations essentially leave the collection industry in the same place it was before the new rules. Debt collectors are still permitted to use automated dialing systems or prerecorded messages to call a consumer’s residential line without obtaining the consumer’s prior express consent, but still need the consumer’s prior express consent to call a wireless phone using an automatic telephone dialing system or prerecorded voice.
For more detailed information on the TCPA and the new restrictions, members are encouraged to review the following Fastfaxes: An Overview of the TCPA and the FCC’s Regulations, Fastfax #9515; and Autodialers and Prerecorded Messages, Fastfax #9518. Members can access ACA’s Fastfax library on the Fastfax page of ACA’s website.” - ACA International
Fred Stamey, Director Truck Driver Program, Sampson Community College received a call from a man calling himself Michael Davis from Martin Transport. Mr. Davis called the school looking for students drivers.
He indicated that he is a recruiter for Martin Transport. (HE IS NOT) and once he has access to the students, he instructs them to wire funds to him for orientation and transportation. He assures them that the student will be reimbursed upon arrival. He is asking for $150 - $175.
The number he is providing is a throwaway phone so it can’t be tracked.
Please be sure to warn all your staff and students that Carriers do not require funds up front for a job.
Thank you Mr. Stamey for the heads up!
3rd Party Collection Agency in Fenton, MO 63026
- Collection and Loan Servicing Accounts
* MUST have 2 YEARS 3rd-party debt collection experience
* Typing speed at least 45 wpm
*Knowledge of FDCPA, FCRA, TCPA
* MONTHLY BONUS potential
* NO WEEKENDS and NO LATE NIGHTS
M-TH 8-6, F 8-4:30
* Vacation & Benefit package
* Casual attire
PLEASE INCLUDE ANSWERS TO THE FOLLOWING QUESTIONS IN YOUR REPLY EMAIL:
1) What is your average monthly bonus?
2) What is the average number of your daily outbound calls?
3) What is your collection style?
4) What is a high point of your collection career?
To be considered you MUST REPLY WITH YOUR RESUME’ & ANSWERS TO THE QUESTIONS
APPLY & RESPOND HERE: http://stlouis.craigslist.org/csr/4105145175.html
As members of APSCU, Partners Financial Services, Inc. received an email in regards to the Federal Communications Commission’s (FCC) new regulations under the Telephone Consumer Protection Act (TCPA. Please review the following information.
"We want to draw your attention to a new Federal Communications Commission (FCC) regulation affecting all businesses. On October 16, 2013, the new Telephone Consumer Protection Act (TCPA) regulation goes into effect and any business making marketing calls to cell phones and/or on phone equipment that has the capacity of becoming an automated dialing system could face significant fines ($500-$1500 per violation) if the business contacts an individual who has not given the business express prior written consent to do so.
The document provides a general background on the TCPA regulations, frequently asked questions businesses may want to ask themselves or their vendors, and several articles from or prepared on behalf of APSCU Allied Members. Should you have any questions or comments, please do hesitate to contact APSCU’s Director of Government Relations, Don Lefeve, at 202-336-6816 or by email at Don.Lefeve@apscu.org.
Steve Gunderson Mitch Talenfeld
CEO, APSCU President, MDT Direct”
President Barack Obama on Aug. 22 proposed an overhaul to the federal student aid program that would link funding to how well colleges and universities score in affordability and student performance.
The president unveiled the plan during a speech at the University of Buffalo. He said schools would be evaluated on several criteria, such as average tuition and student loan debt, graduation rates, and the average income of graduates. Federal financial aid distribution would be tied to the ratings, meaning students attending schools with better ratings would receive larger grants and more affordable loans.
Obama’s plan calls for the rating system to be implemented by 2015, with aid distribution based on the ratings occurring by 2018. Congressional approval would be needed for this to happen.
Higher education financing—particularly student lending—has been a topic of much discussion in recent months. On July 1, interest rates on federally subsidized Stafford student loans doubled. On Aug. 12, the president signed a bill that ties interest rates to the financial markets—retroactively lowering current rates, but setting up future rates to increase.
The Consumer Financial Protection Bureau also recently announced that total student loan debt in the U.S. has now reached roughly $1.2 trillion.-ACAInternational
U.S. borrowing increased by $13.8 billion in June to a seasonally adjusted $2.85 trillion, the Federal Reserve reported on Aug. 7 in its monthly report on consumer credit.
Revolving credit, the category that includes credit cards, dropped $2.7 billion in June. Nonrevolving credit, which includes auto and student loans, increased by $16.5 billion.
The May to June increase was down from the April to May increase, which was $19.6 billion. That was the largest single-month increase since May 2012, and was spurred by a more than $6 billion bump in revolving credit.
*(This Article was written & published by ACA International @ http://www.acainternational.org/news-us-consumer-borrowing-continues-to-grow-28639.aspx)