Debt Collection Agencies are like rabid pit bulls. Once they latch on to you they don’t let go until they rip something away from you”.
When those vultures start circling phones start ringing.
The White House’s own analysis of the loophole shows that it won’t really bring in any more money
, and could actually be a revenue loser, but the administration hasn’t made any moves to close the loop hole.
What is this loophole and where did it come from?
Now while this cozy arrangement with debt hounds allows the hounds to make robocalls for the purpose of collecting debts owed to the federal government, the FCC has tried to shoe horn in some restrictions to keep this from becoming a rampant free-for-all harassing all – all day long shit storm.
One of the restrictions the FCC embraces would give the debtor the right to stop the collectors from calling them. This right would have to be disclosed by the collector at the beginning of the call.
“Don’t call my damn number no mo”. Done deal.
Debt collector – “I’ma call her mama and scare the shit out of her and mama will either call little Ms. Deadbeat and chastise her into paying – or maybe mama will just pay little Ms. Deadbeat’s debt.”
Another important restriction would prohibit collectors from contacting family and friends of the alleged debtor. Because we’ve all heard horror stories about rogue debt collectors calling moms, dads, bosses, co-workers in attempts to embarrass debtors into paying.
The most important restriction in this rider would limit Robocalls to three per month. Push back from the collection industry on this one comes as no surprise.
Anybody that’s ever been in the crosshairs of a rogue posse of debt collectors know that they can hit your phone line up to three times an hour. Throttling them down to three calls a month is the equivalent of throttling down a career drug addict to three hits a month.
The loophole has some high profile supporters. Bank of America, Wells Fargo, Apollo Education [parent company of University of Phoenix], and DeVry Education — continue to argue that these robocalls actually benefit consumers
, calling them an “important consumer protection [that] will help those struggling with student loan debt.”
I have not seen the draft of the proposal, so I’m not privy to whether these restrictions will sustain the snapping teeth of those that oppose.
Additionally, the rules may change after the 30-day open commenting period, which will kick off after the text is made public on the FCC site
Keep an eye on this one y’all. If it goes unchecked it could become the source of a lot of phone grief for some folks. And if you give rougue debt collectors and inch we all know they’ll take a yard.