Debt Collection Complaints?

http://www.washingtonpost.com/business/economy/debt-collection-complaints/2013/11/07/3425d806-472d-11e3-a196-3544a03c2351_story.html

By Michelle Singletary, Published: November 7, 2013

The Consumer Financial Protection Bureau wants to hear about your dealings with debt collectors.

The CFPB is considering creating rules to govern debt collectors, “a loosely regulated industry under increasing scrutiny over complaints of abusive tactics,” reports Danielle Douglas for The Washington Post.

The consumer watchdog agency is soliciting comments from the public and businesses before proposing the rules, which are expected to be finalized next year. The CFPB says it’s interested in “consumer experiences with the debt collection system, and about how rules for debt collectors might protect consumers without imposing unnecessary burdens on industry.”

“While debt collection can benefit consumers by reducing the price and increasing the availability of credit, in the absence of legislation and regulation many consumers may be subject to debt collection efforts that raise consumer protection concerns,” CFPB said in its notice about the proposed rulemaking.

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I want to hear about your debt collection experiences. What dealings — good or bad — have you had with debt collectors? Send your comments to colorofmoney@washpost.com. Put “Debt Collection” in the subject line and include your full name, city and state.

You might also consider sending comments about your experiences to the Consumer Financial Protection Bureau to help with its rulemaking. In its notice, the agency addresses a number of issues about the industry. Look through the questions asked by the CFPB, and then submit your comments. Include the question number or numbers to which your comment pertains. Your comments should also be identified by Docket No. CFPB-2013-0033 or Regulatory Identification Number (RIN) 3170-AA41. You can send your comments by any of the following methods:

• Electronic: http://www.regulations.gov.

• Mail/Hand Delivery: Monica Jackson, Office of the Executive Secretary, Bureau of Consumer Financial Protection, 1700 G St., NW, Washington, D.C., 20552.