Debt collection: Know your rights

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Now when you sit down for dinner the phone starts ringing and it may be in debt collect Erica real real problems sometimes -- even call you at work.

But if you're having financial trouble you should know that there's a way to get rid of those offensive and sometimes illegal ways to try to get money that -- well.

Starting next year in January the government will be able to overseeing.

Business practices of the major collection agencies.

And today's take charge consumer protection segment I want you to know your rights when it comes to debt collection -- you can take charge.

Patrick Morris is the CEO of the American collectors association.

And it's great to see a -- -- I guess collectors are not always a bad term more bad people they're doing their job.

What can they do and one under these new regulations will they not be able to do it.

Well.

Thank you Jamie and I appreciate you having me here on this busy -- -- The essentially what the but the bureau's new rule will allow is the new consumer bureau.

To come -- and exam and large participants as they define them it doesn't really.

Change the rights of consumers consumers can still.

Choose to not talk to debt collectors they can ask for verification.

And we.

We treat them with respect.

And with fairness are the practice is going to be more fair to the consumer.

Well the change.

With the bureau.

Is to it is to come in and start to examine some of the large participants to look at their internal controls.

To look at their compliance programs.

To look at how they deal with consumers on the phone things like that so I don't think the bureau's.

New rule is gonna change the way that our collectors deal with folks.

On a day to day basis now.

One of the things I came across in Miami search is that under the telephone consumers protection act.

Collectors can contact consumers on cell phones.

In terms of debt collection and -- you know let's face it now a lot of people don't have land lines so.

With the job getting a little more difficult for debt collectors are they -- resorting to more desperate practices.

Now while there would they are prohibited from calling cell phones right now under the telephone could consumer protection act.

In -- is a prior business relationship.

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Debt collection: Know your rights

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