Staying in Compliance with the Federal Debt Collection Practices Act (FDCPA): What Debt Collectors can Say or DO?
Duration: 90 Minutes
This webinar will describe the Federal Debt Collection Practices Act (FDCPA) in general, along with the other four laws that affect debt collectors as a whole: the Fair Credit Reporting Act, HIPPA, the Truth in Lending Act, and the Uniform Commercial Code. Attendees will learn what you can and cannot say and do with regard to consumer debt collection. In addition, the course will discuss tools you can use to hasten collecting consumer debt, without going to court in many instances. Finally, it will discuss the advantages and disadvantages of getting judgments, forgiving debt, and how to handle being sued by a debtor for allegedly violating the law.
Objectives of the Presentation
Consumer debt collection is among the most highly-regulated arenas you will ever encounter within the accounting profession. Even though you are legitimately trying to recover money owed to your firm, it can often feel like the debtor has more rights than you do.
The goal of this webinar is to minimize uncertainty regarding what you are allowed (and not allowed) to say and do. We'll cover the three major areas of the Fair Debt Collection Practices Act that get even veteran collectors in trouble: Harassment, Unfair Practices, and Illegal 3rd Party Disclosure.
*NOTE - This webinar primarily addresses consumer collections. Minimal time will be spent on addressing business-to-business debt collection.
Why Should you Attend
It's more important than ever before to understand the issues if you want to stay in compliance with the Fair Debt Collections Practices Act. The Fair Debt Collection Practices Act is the single most important piece of Federal legislation affecting consumer debt collection. Abide by it and you're fine. Violate it…and the fines can be severe.
Who can Benefit
- The Fair Debt Collection Practices Act - Origins and who it applies to
- The Big 3 - Areas that trip up even veteran collectors and staying compliant
- Civil liability
- How to handle being sued by a debtor
- Board Members
- Internal Auditors
- Compliance Professionals
- Operational professionals
- Credit Managers
- Collection Managers
- Accounting Managers
- Chief Financial Officers
- International Sales Managers
- And anyone who has a direct or indirect responsibility for maintaining their company's cash flow and minimizing the risk of selling on credit.