Yes. You can be contacted seven times a week for each debt.
The Consumer Financial Protection Bureau has issued new final rules concerning The Fair Debt Collection Practices Act (FDCPA). The stated purpose of the new rules was to Update decades old guidelines that were issued before the advent of cell phones and other newer technology.
CFPB Director Kathleen Kraninger said that in issuing the rule, the CFPB wanted to provide a guide for consumers to use in evaluating whether a debt collector was harassing them.
“No matter the reason a consumer has a debt in collection, we want to make sure there are clear rules of the road for debt collectors to follow the law and alongside that, swift action against those who flout the law,” she said in releasing the final rule.
The rule prohibits debt collectors from making a collection phone call for a particular debt more than seven times within a seven-day period or within seven days of having a telephone conversation with the debtor. It states that a consumer may restrict the type of media used by a debt collector to contact a person.
It also allows newer communication technologies, such as emails and text messages, to be used in debt collection.
The CFPB acknowledged that some creditors could experience higher debt collection costs if they hire a third-party debt collector rather than collect debts themselves.
Senate Banking Committee ranking Democrat Sherrod Brown of Ohio had a mixed reaction to the final rule.
“While I am pleased that the CFPB did not include some of the most harmful provisions of the proposed rule, the final rule still allows collectors to make excessive phone calls to consumers — up to seven times a week for each debt — and unfairly puts the burden on consumers to ‘opt out’ of harassing text, email and social media messages,” he said. (as quoted in the Credit Union Times). For more information, contact us at (480) 733-6800.