Daily Digest – May 10. West Virginia Makes Changes to Debt Collection Laws; Financial Counseling Group Publishes Warning Bulletin on Debt Collections

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WEST VIRGINIA MAKES CHANGES TO DEBT COLLECTION LAW

• The state of West Virginia has gone forward and enacted a new law that alters some of the procedural components of debt collection in the state. For example, attorneys who are licensed to practice in West Virginia and are representing creditors are no longer defined as “debt collectors” in the state, as long as they are handling claims in their own name and are not running a collection agency or working for someone who is an unlicensed attorney.

FINANCIAL COUNSELING GROUP PUBLISHES BULLETIN ON DEBT COLLECTIONS

• The Association for Financial Counseling & Planning Education has issued its first ever Consumer Bulletin, aiming to educate individuals about their rights when it comes to debt collection. Like many other outlets, the AFCPE uses complaint numbers from the Consumer Financial Protection Bureau as context to establish the scope of the “major problem” for individuals who owe unpaid debts. The bulletin lists three “problem” areas and the first one is likely the best one: Beware of legitimate debt collectors attempting to collect on a real debt, but acting in violation of the Fair Debt Collection Practices Act (FDCPA), which forbids certain abusive practices by third-party debt collectors.

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The Daily Digest is sponsored by T-Max Dialer & Communications, the leader in hosted inbound and outbound dialer technology.