Debtors are in peril of losing federal protection

[Anonymous]

Debtors are in peril of losing federal protection

March 30, 2003: As a consumer your federal right of protection against collector harassment may be reduced if the House Bill 1219 is approved by the senate and put into law. This erases a 36-year-old ban on harassing employers; you the consumer and employee will lose protection in a big way.

A Denver Post editorial recently printed: “We would be hard-pressed to come up with a more counterproductive scheme or one so wasteful of taxpayers' time and resources as House Bill 1219, which would erase a 36-year-old ban on harassing employers whose workers fail to pay creditors on time.”

This will be a detriment to the employer and an embarrassment to the employees that are having trouble keeping up with bills. Employee production may go down because employees will use company time to solve money problems in a frantic attempt to stop collectors from calling.

By the way collectors that call and harass employees at work now know it is against the law, and knowingly disregard the FDCPA law section 805.(a)(3). This law currently states “if the debt collector knows that an employer prohibits communications concerning debts, not to contact the debtor during his or her employment.” This request to the collector does not have to be in writing and a verbal request by the debtor to the collector to stop calling is considered acceptable notification. Hard-core collectors often ignore this in their pursuance of collecting commissions on debt collected.

Section 805.(a)(3) of the FDCPA also indicates the collector and their company may be sued for up to $1,000.00 for such an infraction.

Your rights under the Fair Debt Collection Practices Act:

·[TAB]Debt collectors may contact you only between 8 a.m. and 9 p.m.

·[TAB]Debt collectors may not contact you at work if they know your employer disapproves.

·[TAB]Debt collectors may not harass, oppress, or abuse you.

·[TAB]Debt collectors may not lie when collecting debts, such as falsely implying that you have committed a crime.

·[TAB]Debt collectors must identify themselves to you on the phone.

·[TAB]Debt collectors must stop contacting you if you ask them to in writing.

The real risk for employees is losing jobs, income, and the physiological damage it will cause to a household due to this relentless abusive aggression of collection agencies.

Most places of business have rules against employees' tying up company phone lines with personal calls, and few firms will tolerate an employee being telephoned repeatedly by a debt collector. Imagine your boss giving you an urgent message from a collector and suggesting that you resolve this or lose your job. A few too many calls to the boss and the debtor will end up unemployed and have even less ability to pay up.

Under current law, harassment of the employer or the family of a consumer is considered an invasion of privacy for which a civil lawsuit may be brought.

Collection agencies are barred from continuing to call debtors if the consumer notifies the collector in writing to stop calling. This letter is called a cease and desist demand.

Under current law, collection agencies are required to immediately stop calling. They have the right to make one final call to inform you of any further action they may legally pursue to collect money.

Another change in HB 1219 would make it more difficult - if not impossible - for the attorney general's office to examine a collection agency's books without a subpoena during normal business hours. Putting it plainly, these anti-consumer, anti-employer provisions of HB 1219, (passed by the House and now before the Senate) is designed to benefit no one but professional debt collectors.

This bill must be struck down before it passes and creates major havoc to encumbered financial slaves, undermining an already weak economy.

Write or call your senator or congressman to stop this bill from passing.

House bill 1219

© Moneywork$, Inc. 2003

Responses may be sent to [email protected]

[Anonymous]

My deepest apology to you and your site. I am not a fear monger nor do I promote disinformation. the information sites below have promoted this information. Upon further investigation I too can not find anything to support to the below web pages and the information that was posted by them as well as me.

I was taken by this information as you see. The information is about the state of Colorado and their guidelines for debt collectors. when I finally found the real information, it had nothing to do with the post on the Denver Post.

My intention was only to relay what appeared to be newly found information that was apparently false and was generated by an editoral from the Denver Post about Colorado State Legislation.

You may review it for yourself

Sometimes we all are mislead.

Apologetically

Kenneth R. Silagy

http://www.collectionindustry.com/index.cfm?id=8&news_type=1&news_id=8903

http://www.denverpost.com/Stories/0,1413,36%257E417%257E1250931,00.html

[Anonymous]

<blockquote>Originally posted by kenrb01

No response here or from email in original post. I did a search on Google and found http://planetmoneyworks.com/index.html. Guess what, it's a debt reduction/elimination company who's president is the original poster. Yet, all searches for HB 1219 pull up bill dealing with changes in medical malpractice suits that will limit damages awarded to plaintiffs, but no mention of CA's calling your employer. My conclusion/opinion: this is just BS scare tactic to get people to use above service to avoid trouble with CA's, and will be my opinion until someone can provide info otherwise on HB 1219. If I am wrong, please correct me.

</blockquote>

Thank You for the nice promotion. My company really doesn't need it. Most of our business comes from referrals, but thanks again.

And yes I am the president of the company.

While you where creating discension, I was researching this issue, to which unfortunately did not help the community nor my appearance.

My quest was education of the masses. Yes there was some of my report that was not correct however alot of it is true. There is wide spread abuse and disregard for the FDCPA by collectors because they can do it get away with it. Why? People are uneducated about there rights.

While this site is very good at finding incompedence in companies and slamming them. And Trust me some of them should be slammed. I think that that is the wrong focus.

The focus should be more on financial education.

It should be more on targeting legal loan sharking.

It should be about attacking companies that charge 300% to 900% annual apr. 30% interest for just a 10 day period, and tout it as something great, while proudly post it on their walls for all to see. Then when someone defalts them, they beat these poor people to death with the legal system.

I am dumbfounded that people will asertain all kinds of education except the one they need the most ... Financial Education!

My company give free educational workshops about basic money matters and no one shows up. People are committing suiside because of debt. But will refuse educated about money.

When was the last time you went to a seminar about money?

You probably didn't because it cost too much.

You see nothing is free and that includes education. People will become educated about money, one way or another. Most people chose the hard way ...DEBT. That is all that they know.

Mortgage companies say, take your short-term debt and make it long-term. Credit card companies target and profile groups of people. Starting at the early age of 15 you can develope your very own personal death-grip with debt and by the time your 30 you cannot find a way out anywhere.

Legal loan sharks will help you for only 900% interest.

The reason I am here is not because I want to promote my company. I want to promote financial freedom, and the new American Dream of getting out of debt. This year the number one New Years Resolution of losing weight, was beat out by the need to get out of debt.

For every 1 person that stops here there is another 1,000 people that have no clue about money, debt, wealth, or anything that pertains to the money conversation. these people are afraid to talk to anyone about it. And these people simply sit and suffer. They need help.

If that is so wrong ...So be it.

Kenneth R. Moneyworks

[kb9tbq]

MoneyWorks:

Q. What type of debt can be handled through the program?

A. Any unsecured debt. The IRS and student loans can be worked, but outside of the program.

Q. How does it affect credit?

A. The program is a bankruptcy prevention service, so credit must be a secondary concern. It must be anticipated that a certain deterioration of credit will occur. The service includes free "Post Program Credit Restoration", which will help restore the credit once the program is completed.

Q. How does this program compare to consumer credit counseling?

A. Credit counseling has no effect on principal at all. The purpose is to pay the debt in full at a reduced interest and/or monthly payment. The big problem with CCCS is the payments are often still too high and it will take 5 or 6 years to pay the debt off. Also, the creditors primarily fund agencies like CCCS, so that is where their allegiance lies.

Q. How does it compare to bankruptcy?

A. Bankruptcy is designed to be the last straw. It has a lingering affect on the credit report for 10 years and has ramifications in many aspects of every day life.

You don't want to claim Bankruptcy - unless it is the absolute

last resort.

Please correct me if I am wrong; but looking at the questions & the answers. I get every impression that your business is Settlement of Debt.

Would be curious to understand what the siminar talks about conserning Create an Emergency Fund; Ensure Proper Protection; and Build Long-Term Savings.

But I find suspect with the Debt Eliminator part. There are no acceptable dents that people here want to incure on their credit reports for the end result for being debt free. 7 years is a long time for the credit report to recover on any given matter.

If you could please give a run down on the Debt Eliminator part for a better understanding in general would be appriciated.

Sorry to come off suspect; just that when we work with public boards for the benefit of everyone; there is a responsibility to clarify and understand what might help the board as a whole.

[Anonymous]

<blockquote>Originally posted by kb9tbq

MoneyWorks:

Q. What type of debt can be handled through the program?

A. Any unsecured debt. The IRS and student loans can be worked, but outside of the program.

Q. How does it affect credit?

A. The program is a bankruptcy prevention service, so credit must be a secondary concern. It must be anticipated that a certain deterioration of credit will occur. The service includes free "Post Program Credit Restoration", which will help restore the credit once the program is completed.

Q. How does this program compare to consumer credit counseling?

A. Credit counseling has no effect on principal at all. The purpose is to pay the debt in full at a reduced interest and/or monthly payment. The big problem with CCCS is the payments are often still too high and it will take 5 or 6 years to pay the debt off. Also, the creditors primarily fund agencies like CCCS, so that is where their allegiance lies.

Q. How does it compare to bankruptcy?

A. Bankruptcy is designed to be the last straw. It has a lingering affect on the credit report for 10 years and has ramifications in many aspects of every day life.

You don't want to claim Bankruptcy - unless it is the absolute

last resort.

Please correct me if I am wrong; but looking at the questions & the answers. I get every impression that your business is Settlement of Debt.

Would be curious to understand what the siminar talks about conserning Create an Emergency Fund; Ensure Proper Protection; and Build Long-Term Savings.

But I find suspect with the Debt Eliminator part. There are no acceptable dents that people here want to incure on their credit reports for the end result for being debt free. 7 years is a long time for the credit report to recover on any given matter.

This is where there is alot of concern and confusion. Most people that come to us are near the point of bankruptcy and their credit is already tarnished with report blemishes.

The question then becomes, Are you concerned with your debt or your credit report? If you get rid of the debt then the credit report will take care of it self with proper management. Proper management is the answer to resolving the credit report concern. You see most people will resolve the problem but are not told to re-establish new trade lines (credit) to prove that they are worthy of more new credit. This can be done without going back into debt, another thing that is not reveiled to most people.

If you say credit report is your concern then we have to look at another program which is a management service and is not reported to the bureaus and meets the needs of the individual and their budget.

I come from a financial planning environment thus treat this as such. No cookie cutter planning here. We look at this issue from A to Z and work to plan solid foundations. We plan for emergency fund building where possible. We plan for re-installment of insurances and reduction of their costs if possible. We try to build a progressive plan of savings so when the program is finished that the person NEVER walks down this road again.

If you could please give a run down on the Debt Eliminator part for a better understanding in general would be appriciated.

There are no easy answers to the problem of deb reduction. However some answers are more efficent than others. With creditors charging as high as 36.90% interest there is room for negotiation.

The Eliminator plan is there to negotiate an agreed settlement for people because, as a rule creditors tend to want to work with companies instead of debtors. We can often accomplish what an individual cannot. We also take a strong stance in what the creditor reports to the bureaus after the settlement.

Sorry to come off suspect; just that when we work with public boards for the benefit of everyone; there is a responsibility to clarify and understand what might help the board as a whole.

</blockquote>

Thank you for you questions and I hope that I have provided you with acceptable answers.

[sisflomi]

How can we find out if these bills get passed or not?