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Bypassing the FDCPA

Discussion in 'Credit Talk' started by Nave, Jun 28, 2002.

  1. Jun 28, 2002 #1
    Nave

    Nave Well-Known Member

    From that great CA discussion website posted by Creditman, I found this:

    We do however have clientele that are direct debt buyers and actively collect debt without any license.As owners of the debt they manage to bypass FDCPA Laws and are not considered 3rd party debt collectors.

    Those SLEAZY collectors!!

    -Peace, Dave
     
  3. Jun 28, 2002 #2
    DaveLV

    DaveLV Well-Known Member

    But, I'd imagine they would still be covered by the FCRA if they chose to report.
     
  4. Jun 29, 2002 #3
    Butch

    Butch Well-Known Member

    Dave,

    I saw something very similar and was gonna post it here too.

    Seems if they BUY debt they are NOT 3rd party collectors and not subject to FDCPA?

    Holy CRAP!
     
  5. Jun 29, 2002 #4
    Butch

    Butch Well-Known Member

    No wonder they don't want to answer you when you ask if they own the debt or have been assigned.

    NOW it makes sense.
     
  6. Jun 29, 2002 #5
    fla-tan

    fla-tan Well-Known Member

    But if they are only buying the debt and then try to collect, they still, for FDCA purposes, are regulated.
    Just remember, they bought the debt. They are not the OC. At least that is the way I interpret it.

    fla-tan
     
  7. Jun 29, 2002 #6
    Butch

    Butch Well-Known Member

    Flatan,

    Thats what we're trying to tell you. Apperantly our interpretation has been wrong.

    :)
     
  8. Jun 29, 2002 #7
    Butch

    Butch Well-Known Member

    I just hope THEY realize that.
     

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