New FTC Debt Collection Rules Kick in Aug. 29 Credit Union Times
Rarely does a week go by when we do not receive a call from a credit union regarding potential elder abuse. Recently, the number of calls regarding the legal, moral and ethical means to collect a credit union debt from a deceased member's estate has been increasing. With those credit unions that have an "aging" membership, these issues become more and more paramount.
With little fanfare and very little press coverage, the Federal Trade Commission (FTC) recently published a "Statement of Policy Regarding Communications in Connection with the Collection of Decedents' Debts." The final policy statement is effective Aug. 29, 2011 and impacts all companies that are subject to the Fair Debt Collection Practices Act (FDCPA).
Generally speaking, if a credit union is conducting its collection efforts "in house," it is probably not subject to the FDCPA, but many credit unions utilize CUSOs, collection agencies or collection attorneys, and all of those entities are generally subject to the FDCPA. So please be on alert.
Fair Debt Collection Practices Act (FDCPA) explained: Violations and remedies.
File a Telephone Harassment Report at centenniallawoffices.com if you are receiving harassing calls from a debt collection company. Watch this ...
How to Write Credit Repair Letters – Tips and Techniques
If and when you are facing issues regarding bad credit, the best way out is to write credit repair letters to the credit bureaus and collection agencies. These letters are generally known as â??Credit Repair Lettersâ?. There letters are useful in many ways and many situations depending on person to person. Few of the most common forms of credit repair letters are known as dispute letters, debt violation letters, pay for delete letters and cease and desist letters etc. If you know how to write credit repair letters, you can surely reapir your bad credit report effectively.
Dispute letters
These types of credit repair letters are usually written when you have to mention some points of dispute related to an account, public record or even the personal information. The dispute letters are quite effective if written properly and professionally. Itâ??s is not so very hard to find a few of samples of these kind of letters available online but the problem is that those letters are way above the ground realities. Hence it is always recommended to amend the letter as per your personal needs and cut off the unnecessary things from it or else it might land up in the bin, ruining all your efforts. There is neither any need to mention too much of the laws in the first letter and nor there is any need to show threats to litigation as per the laws. This might end up hurting your case even more than from helping you to resolve it. You must learn how to write credit repair letters today!
Debt validation letters
This criteria of credit repair letters is usually written for a validation of debt by a credit repair agency. The Federal Fair Debt Collection Practices Act better known as FDCPA makes it a right for every debtor to have a fair knowledge and or challenge the written verifications of a debt from a debt collector. You must learn how to write credit repair letters today! Pay for delete letters
This type of credit repair letter is usually written to a debt collector for negotiations on the pay on an existing account, hoping the account to be terminated or to be updated positively on your credit report.
