Monday, April 04, 2005
CREDITWRENCH and the FDCPA Part XXI
As just further evidence that CREDITWRENCH CEO Bill Bauer knows nothing about the FDCPA, he told a collector today:
The FDCPA falls under Title 15 Section Chapter 41 of the US Code. Chapter 41 is named Consumer Credit Protection. Chapter 41 deals entirely with consumer protection laws, not business protection. If it was designed for business protection it would more properly fall under restraint of trade law under Chapter 1.
If that isn't convincing enough, one only needs to read Subchapter V(a):
There is abundant evidence of the use of abusive, deceptive, and unfair debt collection practices by many debt collectors. Abusive debt collection practices contribute to the number of personal bankruptcies, to marital instability, to the loss of jobs, and to invasions of individual privacy
V(b)....purpose of this subchapter to eliminate abusive debt collection practices by debt collectors.....and to promote consistent State action to protect consumers against debt collection abuses.
Why do you think FDCPA was put in place? To help protect consumers? Hardly.
FDCPA was put in place to protect debt collectors who do not use abusive
collection practices from the unfair competition presented by those debt
collectors who do use abusve debt collection practice.
Is he right or wrong? Obviously he's wrong and here's why.
The FDCPA falls under Title 15 Section Chapter 41 of the US Code. Chapter 41 is named Consumer Credit Protection. Chapter 41 deals entirely with consumer protection laws, not business protection. If it was designed for business protection it would more properly fall under restraint of trade law under Chapter 1.
If that isn't convincing enough, one only needs to read Subchapter V(a):
There is abundant evidence of the use of abusive, deceptive, and unfair debt collection practices by many debt collectors. Abusive debt collection practices contribute to the number of personal bankruptcies, to marital instability, to the loss of jobs, and to invasions of individual privacy
V(b)....purpose of this subchapter to eliminate abusive debt collection practices by debt collectors.....and to promote consistent State action to protect consumers against debt collection abuses.
Now it only stands to reason that if CREDITWRENCH CEO Bill Bauer doesn't understand consumer protection statutes, the intent of Congress in establishing such statutes, he would be ineffective in using them to help a student. And, that has been exactly the sentiment of former student's who have emailed me. To quote one such student: "Bill Bauer doesn't know shit." Couldn't have said it better myself.
CREDITWRENCH CEO Bill Bauer stating that the FDCPA was not put in place to protect consumers is false and misleading.
