Understand how the CFPB’s Debt Collection Rule can help you. On November 30, 2021, the Debt Collection Rule became effective. The rule clarifies how debt collectors can communicate with you, including what information they’re required to …

In addition, on November 30, 2021, the CFPB’s new Debt Collection Rule became effective. This rule clarifies how debt collectors can communicate with you, including what information they’re required to provide at the outset of collection about the debt, your rights in debt collection, and how you can exercise those rights.

Oct 18, 2021 · The Bureau provides a list of commonly asked questions and answers on particular topics to assist in understanding and complying with the Debt Collection Rule. Browse all FAQ topics. Forms. Downloadable versions of the model validation notice published in the Debt Collection Rule, as well as Bureau translations. Browse forms

Oct 1, 2021 · The Debt Collection Rule’s requirements regarding consumer cease communication requests. See generally 12 CFR §§ 1006.6(c)(1) and 14(h)(1), as well as Section 4.5 and 7.2 of the Debt Collection Small Entity Compliance Guide. The Debt Collection Rule’s requirements regarding opt-out notice requirements for electronic communications.

Learn about debt collection, harassment, and more.

Apr 19, 2023 · Introduction Comment for 1026.2 — Definitions Comment for 1006.6 — Communications in Connection with Debt Collection Comment for 1006.10 — Acquisition of Location Information Comment for 1006.14 — Harassing, Oppressive, or Abusive Conduct Comment for 1006.18 — False, Deceptive, or Misleading Representations or Means Comment …

Oct 30, 2020 · With this modernized debt collection rule, consumers will have greater control when communicating with debt collectors.” The final rule also contains provisions on disputes, and record retention, among other topics. The Bureau intends to issue a second debt collection final rule focused on consumer disclosures in December 2020.

Jul 30, 2021 · – The Consumer Financial Protection Bureau (CFPB) today announced that two final rules issued under the Fair Debt Collection Practices Act (FDCPA) will take effect as planned, on November 30, 2021. The CFPB issued a proposal in April 2021 that, if finalized, would have extended the effective dates to January 29, 2022.

Sep 5, 2024 · The CFPB's annual report to Congress summarizes its activities, and those of the Federal Trade Commission (FTC), in administering the Fair Debt Collection Practices Act (FDCPA) in 2023. This report also highlights consumer protection issues in …

Debt collectors include collection agencies or lawyers who collect debts as part of their business. There are also companies that buy past-due debts from creditors or other businesses and then try to collect them. These debt collectors are also called debt collection agencies, debt collection companies, or debt buyers.