Debt collection is clearly one of the most heavily regulated industries in the United States. Federal, State and local regulators place onerous, duplicative and often confusing requirements on companies seeking to collect debts. Further, when collection agencies comply with the myriad of laws, many face lawsuits from consumer attorneys claiming that the attempts at compliance somehow violate the law.
In the this episode of the Debt Collection Drill, Attorney John Rossman and Mike Poncin discuss two recent, reported decisions where one collection agency – Financial Recovery Services, Inc. -- successfully defeated claims that its plain compliance with State and Federal regulations somehow violated the FDCPA.
Brian Bowers, the President of Financial Recovery Services, Inc., commented on one of these recent FDCPA victories by his company:
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