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Pres TRUMP plans to increase collection tactics by Creditors

 
White Gloves
User ID: 76131252
United States
05/16/2019 11:21 AM
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Pres TRUMP plans to increase collection tactics by Creditors
President Trump must be getting pressure from banking demons because he is gradually allowing removal of the limitations on credit collectors nasty tactics. Read about Facebook and Twitter actions by Creditors.

This is an FYI post to discuss experiences and opinions regarding creditors and debt.

Please do not attack other posters with nastiness. Some people are having a very hard time making ends meet, and often are working two jobs.


50% rule: Vanity Fair
VF won't link.
Just search for Trump Credit Report and the article pops up.


Trump Wants to Make It Legal for Debt Collectors to Text You “Where’s the Money, A$$hole?”
New rules would allow debt collectors to send customers unlimited texts and e-mails.
BESS LEVINMAY 7, 2019 6:52 PM

By Kevin Lamarque/Reuters.
Out of all the agencies the Trump administration has attempted to destroy from the inside, the Consumer Financial Protection Bureau stands out from the pack. Under the tutelage of Mick Mulvaney, the bureau—whose name he literally wanted to change so there was less emphasis on the word “consumer”—cut back on lawsuits against financial institutions by two-thirds; didn’t bring a single new discrimination case; allowed a company that had falsely threatened customers “with arrest and imprisonment if they failed to repay loans” to settle for zero dollars and zero cents; and went to bat in a major way for payday lenders, which are known for charging mafia-level interest rates and trapping the working poor in an inescapable cycle of debt. In December, Mulvaney left the C.F.P.B. to become Donald Trump’s chief of staff but according to a new report, his goal of turning Elizabeth Warren’s baby into an agency that harms the very people it was designed to protect lives on!


On Tuesday, the C.F.P.B. announced a proposed set of rules that would give debt collectors the green light to send consumers unlimited text and e-mails, in a move that Mulvaney’s successor, Kathy Kraninger, has tried to claim is all about helping the people the messages are intended to harass. (Last month, before the proposed rules were officially unveiled, Kraninger, trying her hand at comedy, said that allowing debt collectors to violate people’s inboxes and phones is all about “empowering consumers to help themselves [and] protect their own interests.”)

While industry groups are obviously thrilled with the move, consumer advocates—which the C.F.P.B. used to be—worry about what kind of high-pressure tactics collectors will use once given the thumbs-up to violate consumers’ privacy in a digital fashion. “People are able to ignore phone calls, and that is the thing debt collectors don’t like,” David Phillips, an Illinois attorney who has filed dozens of suits against debt collectors, told The Washington Post. “It’s as if a debt collector is able to show up at your house and pound on the door. That is the effect of a text message.” Kraninger & Co. have also asked debt collectors if they foresee using social media to contact customers and for many, the answer is We’re two steps ahead of ya, Kath. Per the Post:


Diandra Rivera of Brooklyn said she stopped posting to Facebook and closed her LinkedIn account after realizing debt collectors had started monitoring the sites. One combed through her LinkedIn page to find a former boss and even family members, who the debt collector then contacted, she said. Another monitored her Facebook page. During phone calls with the debt collection agency, the representative would mention social outings she had posted on Facebook, Rivera said. The agent questioned why she was behind in repaying her student loan payments if she could afford to go to Applebee’s, Rivera said.
Anonymous Coward
User ID: 77263232
Slovenia
05/16/2019 11:24 AM
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Re: Pres TRUMP plans to increase collection tactics by Creditors
I don't get it.

What is your problem with this?


I lend you something, you don't give it back in the alotted time and what, you want to just be left alone?
Anonymous Coward
User ID: 21148164
United States
05/16/2019 11:30 AM
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Re: Pres TRUMP plans to increase collection tactics by Creditors
Oh noes!!

If a creditor ever did that to me I would offer to pay them in person.
Anonymous Coward (OP)
User ID: 76131252
United States
05/16/2019 11:31 AM
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Re: Pres TRUMP plans to increase collection tactics by Creditors
I don't get it.

What is your problem with this?


I lend you something, you don't give it back in the alotted time and what, you want to just be left alone?
 Quoting: Anonymous Coward 77263232


No, that is not the point. It is an article stating the rules of collection are there already, but harrassment and destroying people at work would be a renewed approach that has previously been illegal.
Anonymous Coward (OP)
User ID: 76131252
United States
05/16/2019 11:33 AM
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Re: Pres TRUMP plans to increase collection tactics by Creditors
Oh noes!!

If a creditor ever did that to me I would offer to pay them in person.
 Quoting: Anonymous Coward 21148164


Agree! If I owed money I would not be eating at restaurants!