Check out our webinar to get a better understanding of these new changes:
Learn what you need to do for your consumer collection accounts before the CFPB New Rules take effect November 30th.
Beginning November 1st, consumer accounts assigned may need additional information to be compliant with the upcoming CFPB FDCPA rules.
Consumer debt collection industry validation letters will change with these new rules, so we would like to collaborate in order to be prepared and allow us to continue providing the highest quality debt collection services.
Under these new rules, a third-party debt collector must provide more information on their initial demand communication regarding how the amount due will be attempted to be collected. The rules can also be complied with by tracing the balance to a particular “itemization date” from one of the options the CFPB has provided and provide credit/debit amounts since that date.
Caine & Weiner will be making changes to our “immediate collection form” and our “online placement form.” We recommend clients meet with our team to determine what solutions are best for your debt type.