Understand and Comply with the Fair Debt
Collection Practices Act - Accounting and Finance Seminar
Today collecting debts owed to you is more
important — and harder — than ever before
Debt collection plays a critical role in a
healthy economy — by collecting debts owed in a timely fashion,
organizations lower the cost of doing business, keep credit flowing and enable
consumers to borrow (and thus spend!) more freely.
Unfortunately, some debt collectors resort to harassment, intimidation and other
unfair tactics to get consumers to pay up … and in response, the US Government
drafted The Fair Debt Collection Practices Act (15 USC 1692). The FDCPA was
created to protect consumers from harmful debt collection practices, as well as
to protect ethical collectors from experiencing a disadvantage due to despicable
practices by their unethical counterparts.
Debt collection is a part of doing business … but there's a right way and a
wrong way to go about it!
This powerful new seminar gives you the knowledge
you need to collect money owed, while staying within the legal parameters laid
out by the FDCPA. With the practical skills you'll master here, you'll find
collecting outstanding debts is faster, easier and less stressful than you ever
thought possible. Most importantly, you'll gain a clearer understanding of the
legal requirements of the FDCPA … and never again make uninformed decisions that
could land you or your organization in legal hot water.
We'll cover critical issues and need-to-know info to keep you in good
standing with the FDCPA:
- Statutes of limitation on debt
- Conduct prohibited by the FDCPA
- The Mini Miranda warning
- Requirements for debt validation letters
- Consequences for violating the FDCPA
- What not to say during a phone conversation
- Bankruptcy and collection — what you need to
- Recent FDCPA changes you may not be aware of
- And much, much more!
Understand and Comply with the Fair Debt
Collection Practices Act — Seminar Overview
FDCPA Basics and Background
- The history of the FDCPA: purpose, guidelines,
rights of consumers vs. rights of debt collectors
- How you can make the FDCPA an asset, not a
- Since the FDCPA's inception, types of debt —
and the ways that debt collectors try to collect — them have changed. How can
you stay on top of interpreting the FDCPA given today's technology?
- In 2010, the Federal Trade Commission received
more complaints about debt collectors than any other industry. Tips to avoid
becoming one of the statistics
- Recommended changes to the FDCPA based on the
2010 FTC Workshop report "Collecting Consumer Debts, The Challenge of Change"
- Possible changes in the way that the FDCPA is
enforced due to the newly established Consumer Financial Protection Bureau
Definitions and Key Terms
- Which types of debts are covered by the FDCPA?
- Which debts are not covered?
- Are you classified as a "creditor" or a
- What is the FDCPA's definition of a
- Consumer debt and commercial debt — the
differences according to the FDCPA
- Your rights as a debt collector vs. your
debtors' rights — what you need to know about FDCPA updates, changes and
Communication Guidelines According to the FDCPA
- FDCPA guidelines to gain location information
when talking with a person other than the consumer
- Letters and phone calls: How to make sure
every word and phrase is within legal guidelines
- Improving your telephone persona: How to
master telephone collection techniques while complying with FDCPA rules
- Avoid these common mistakes that can lead to
legal trouble in letters, emails and over the phone
- Third party communication — what you need to
- What you can and cannot say when addressing
consumers according to FDCPA regulations
- The Mini Miranda Warning: are you up to speed
on this critical communication requirement?
- Debt validation letters: guidelines and
language that must be included according to the FDCPA
- Ceasing communication: consumer actions that
require collectors to cease all communication immediately
- The most common violations of the FDCPA — are
you guilty of any of these?
- False or misleading representation: What
actions are prohibited by the FDCPA?
- How much are you required to reveal according
to FDCPA guidelines?
- How the FDCPA coordinates with state laws
- State statutes of limitation on debt
- What constitutes abusive or profane language?
The answer may surprise you!
- Telephone actions that are prohibited: lengthy
conversations, persistent calls, certain hours of the day
- Harassment: what it is, how to avoid it and
still collect what is owed to you
- False or deceptive forms: written language you
must avoid in order to remain in compliance
- How to avoid being charged with unfair
- The truth about post-dated checks and debt
collection: are you aware of these rules?
- The FDCPA's strict regulations regarding
collect calls, telegrams, envelopes and post cards — could you be in
- Consequences of violating the FDCPA —
including fines, penalties, damages and lawsuits
- What is the statute of limitations on FDCPA
- Bona fide errors and unintentional violations:
your rights as a debt collector regarding these issues
- Recent legal decisions: learn what not to do
as a debt collector according to these case studies and real-world examples
- How the Federal Trade Commission's enforcement
policies and procedures work
- How does the FDCPA protect you when a debtor
files a lawsuit in bad faith?
- Which statute of limitations apply in
different types of cases
- How written policies and procedures can be
your best defense against FDCPA liability
Seminar Check-In: 8:30 AM Seminar Class 9:00 AM to 4:00 PM