DEBT COLLECTION COMPLAINTS CONTINUE TO BE THE MOST REPORTED ISSUE TO THE CFPB!
All of the Fair Debt Collection Practices Act material is based upon Public Law 95-109, Title VIII of the Consumer Credit Protection Act which became effective in 1978 and is more commonly known as the FDCPA originally regulated by the Federal Trade Commission (FTC). However today, regulatory responsibility has passed to the Consumer Financial Protection Bureau (CFPB). The course material includes all 18 sections of the FDCPA along with court decisions, FTC Statements and Letters of Interpretation, CFPB interpretations, articles from professional collection magazines, actual experiences of collectors in real-life collection situations and quizzes for each section of the law. The course material is now available - for the first time - on the Internet which permits the User 24/7 access. The FDCPA course is divided into three separate parts (Part 1 a-d; Part 2 e-g; &Part 3 h-o). This makes it easier for the User to cover the FDCPA Training material in any number of online sessions which helps with retention and understanding of the law governing collection practices by third-parties. Each individual receives an individual "Certificate" for each section completed and passed. Managers receive completion/score reports with cumulative test scores by staff member.
The course material encompasses 25 years of professional credit and collection experience working and training staff in banks, credit card companies, government agencies and other financial services organizations - see LinkedIn profile. The FDCPA Course has been taught and used by law firms, collection agencies, debt buyers, organizational collection departments, professional collection trainers and by financial service companies. Additionally, it was important to develop a comprehensive and User-friendly FDCPA course that covered ALL 18 Sections of the law that gave real-life 'examples', case problems with answers and court case rulings that would help collection staff understand how to collect debts legally and ethically. Collectors must know and respect the rights of debtors as well as the appropriate way to negotiate with them. Because non-compliance with state and federal regulations can be expensive to the organization and the individual collector, it is extremely important to have continuing education of employees and is essential for efficiency, productivity, motivation and professionalism. FDCPA Training improves collector skills and often results in improved dollar collections, minimizes the risk of costly lawsuits and goes a long way in substantiating FDCPA compliance training.