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The FTC are to host a round-table to discuss debt collection and arbitration practices Aug. 5 and 6 at the Thorne Auditorium, Northwestern School of Law, in Chicago.
The round-table follows up on the FTCs February 2009 report Collecting Consumer Debts: The Challenges of Change " A Workshop Report, which favored that the debt collection regulatory system in the U.S. should be changed and renewed. The report also publicized a series of regional round-tables to further discuss debt collection litigation and arbitration, next weeks meeting being the first.
The round-table will involve representatives from the collection industry, government officials, judicial system representatives, consumer advocates, academicians and other stakeholders.
On the first day, the round-table will cover litigation topics including service of process, consumer default rates, time-barred debts, evidentiary specifications, and troubles in collection actions and post-judgment affairs.The second day will cover arbitration topics including the role of consumer choice, consumer arbitration codes and propriety, perceptions of bias, transparency of results and post-decision issues.
Too many consumer attorneys contest collections not on the principle of whether the consumer legally owes the debt, but on very small technical issues, according to Markoff. The FTC doesn't regulate attorneys. Among the issues ACA International hopes to bring up at the Chicago round-table is the education of consumers regarding statute of limitations for collections, process servers and proper notice for consumers on arbitration issues. NAF agreed to immediately stop accepting cases involving consumer credit.
New Yorks attorney general also announced the filing of a lawsuit against 37 law firms that could potentially overturn 100,000 consumer credit judgments against consumers in the state. The suit also targets two collection lawsuit process servers. In addition to the FTC, NARCA and ACA, others on the round-table will include representatives from Public Justice, the Consumers Union, the Michigan Poverty Law Program, the Michigan Creditors Bar Association, the University of Kansas School of Law, Public Citizen, the Center for Responsible Lending, the Illinois Credit Bar Association, the American Arbitration Association, the AARP Foundation, the National Arbitration Forum and DBA International.
The round-table follows up on the FTCs February 2009 report Collecting Consumer Debts: The Challenges of Change " A Workshop Report, which favored that the debt collection regulatory system in the U.S. should be changed and renewed. The report also publicized a series of regional round-tables to further discuss debt collection litigation and arbitration, next weeks meeting being the first.
The round-table will involve representatives from the collection industry, government officials, judicial system representatives, consumer advocates, academicians and other stakeholders.
On the first day, the round-table will cover litigation topics including service of process, consumer default rates, time-barred debts, evidentiary specifications, and troubles in collection actions and post-judgment affairs.The second day will cover arbitration topics including the role of consumer choice, consumer arbitration codes and propriety, perceptions of bias, transparency of results and post-decision issues.
Too many consumer attorneys contest collections not on the principle of whether the consumer legally owes the debt, but on very small technical issues, according to Markoff. The FTC doesn't regulate attorneys. Among the issues ACA International hopes to bring up at the Chicago round-table is the education of consumers regarding statute of limitations for collections, process servers and proper notice for consumers on arbitration issues. NAF agreed to immediately stop accepting cases involving consumer credit.
New Yorks attorney general also announced the filing of a lawsuit against 37 law firms that could potentially overturn 100,000 consumer credit judgments against consumers in the state. The suit also targets two collection lawsuit process servers. In addition to the FTC, NARCA and ACA, others on the round-table will include representatives from Public Justice, the Consumers Union, the Michigan Poverty Law Program, the Michigan Creditors Bar Association, the University of Kansas School of Law, Public Citizen, the Center for Responsible Lending, the Illinois Credit Bar Association, the American Arbitration Association, the AARP Foundation, the National Arbitration Forum and DBA International.
About the Author:
Jonathan Summers is working with a collection firm that practices in Business Debt Recovery and is available to help you collect Bad Debt
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