The Federal Trade Commission (FTC) last week put out a notice for public comment in advance of its two-day workshop on debt collection process and arbitration practices to be held in early August.
The FTC will be hosting a workshop in Chicago " formally titled Protecting Consumers in Debt Collection Litigation and Arbitration: A Roundtable Discussion " to dissertate policy concerns surrounding the accounts receivable management industrys use of the legal system. The event, scheduled for August 5-6, will be the first in a series on the topic, according to the FTC.
The event follows up on the FTCs February 2009 Report, Collecting Consumer Debts: The Challenges of Change " A Workshop Report, which suggested that the debt collection managerial system in the U.S. should be changed and revamped. The report also disclosed that the FTC would hold regional roundtables to help develop policy suggestions related to debt collection litigation and arbitration proceedings against individual consumers. The Chicago event, hosted on the campus of Northwestern University Law School, will be the first of these roundtable conversations for state court judges, government officials, debt collectors, consumer advocates, academics and other stakeholders.
Any party interested in submitting written comments or original research on the matter should do so before August 1st. Comments can be submitted electronically through the FTCs Web site. The workshop is free and open to the public.
Earlier this year, the FTC noted in its FDCPA report that laws and regulations that govern debt collection litigation should be addressed and even modified. But because of limited information, the FTC would need to convene additional meetings to develop a policy recommendation.
It is uncertain what current practices the FTC is looking to modify or what direction its policy might head. In the 4 months since the board released its suggestions on the FDCPA, there have been significant changes. For example, one of the first recommendations saw the FDCPA continuing to be administered by the FTC. But recently, there have been calls for a new consumer protection agency to take responsibility for debt collection laws.
The FTC will be hosting a workshop in Chicago " formally titled Protecting Consumers in Debt Collection Litigation and Arbitration: A Roundtable Discussion " to dissertate policy concerns surrounding the accounts receivable management industrys use of the legal system. The event, scheduled for August 5-6, will be the first in a series on the topic, according to the FTC.
The event follows up on the FTCs February 2009 Report, Collecting Consumer Debts: The Challenges of Change " A Workshop Report, which suggested that the debt collection managerial system in the U.S. should be changed and revamped. The report also disclosed that the FTC would hold regional roundtables to help develop policy suggestions related to debt collection litigation and arbitration proceedings against individual consumers. The Chicago event, hosted on the campus of Northwestern University Law School, will be the first of these roundtable conversations for state court judges, government officials, debt collectors, consumer advocates, academics and other stakeholders.
Any party interested in submitting written comments or original research on the matter should do so before August 1st. Comments can be submitted electronically through the FTCs Web site. The workshop is free and open to the public.
Earlier this year, the FTC noted in its FDCPA report that laws and regulations that govern debt collection litigation should be addressed and even modified. But because of limited information, the FTC would need to convene additional meetings to develop a policy recommendation.
It is uncertain what current practices the FTC is looking to modify or what direction its policy might head. In the 4 months since the board released its suggestions on the FDCPA, there have been significant changes. For example, one of the first recommendations saw the FDCPA continuing to be administered by the FTC. But recently, there have been calls for a new consumer protection agency to take responsibility for debt collection laws.
About the Author:
Jonathan Summers is employed with a recognized NY Collection Agency and is here to provide you with any Debt Recovery Services you need
