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You are here: Home / banking practices / Debt Collection Industry Insider Starts Petition to Reign in Collection Abuse

Debt Collection Industry Insider Starts Petition to Reign in Collection Abuse

September 7, 2021 by Michael Bovee 2 Comments

Collection industry insider, Bill Bartmann, has started an electronic petition he will submit to Congress where he suggests the following amendments to the Fair Debt Collection Practices Act (FDCPA):

We hereby petition Congress to amend the current debt-collection rules by adding the following provisions:

  1. Increase the penalty for violations of debt-collection rules from the current $1,000 to $10,000 for each violation.
  2. Ban all collection activities on debt that is older than the relevant statute of limitations.
  3. Raise the requirements necessary to file a lawsuit on credit-card debt.
  4. Require collection agencies to provide clear and understandable history of debt.
  5. Require all collection agencies to be licensed.
  6. Require all collectors to be licensed.
  7. Require an annual compliance audit for all collection agencies.

Learn more about the petition here:  https://www.stopthesecriminals.com

The FDCPA regulates the collection of debt. It is well recognized that amendments need to be made to this consumer protection law from the 1970’s in order to bring it current with advances in technology, and to assist in curbing the steady increases in reported collection abuses.

Collection abuse has been #1 in industry complaints to the Federal Trade Commission several years running.

2010 saw quite a bit of interest and activity toward amending the FDCPA.  The process to amend the Act is well underway.

Want to see the collection industry cleaned up virtually overnight?

Impose a 10k penalty per FDCPA violation.

Think a penalty of ten thousand dollars is that far fetched? The FTC recently put in place an up to 16k penalty per Telemarketing Sales Rule violation that is primarily imposed upon debt relief advertisers, marketers, and service providers – companies who promote they help consumers resolve delinquent debt.

Congress could certainly impose similar statutory penalty caps for violations of the FDCPA against collection agencies – companies who work with creditors and debt buyers to resolve delinquent debt.

Filed Under: banking practices, consumer rights, debt collection Tagged With: Bill Bartmann, collection abuse, Collection complaints, consumer rights, debt collection, FDCPA, FTC

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About Michael Bovee

Michael started CRN in 2004 with a mission to provide people in need with detailed debt and credit help and education. Michael has participated as an expert panelist in federal consumer protection rule making, collaborated on state law changes governing debt consolidation, has worked as an expert witness in court matters related to the debt relief industry, and is a regular contributor to several personal finance websites.

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