Model Fair Debt Buying Practices Act

10 Pages Posted: 2 Mar 2014 Last revised: 17 Mar 2015

See all articles by Rachel Berkness

Rachel Berkness

University of California, Berkeley

Margaret Dreschel

University of California, Berkeley

Logan Talbot

University of California, Berkeley

Jeffrey Selbin

University of California, Berkeley - School of Law

Date Written: February 28, 2014

Abstract

The Model Fair Debt Buying Practices Act would regulate the activities of a person or entity that has purchased charged-off debt. It would establish clear procedures, minimum documentation requirements, and affirmative obligations before a debt buyer can: (1) contact a debtor, (2) initiate a lawsuit, and (3) obtain and collect on a judgment. The Act will help to curb some of the worst abuses in the debt buying industry, ensure that consumers are not forced to pay debts they do not owe, and reduce frivolous lawsuits in state courts.

Keywords: debt collection, debt buyers, frivolous lawsuits, consumer protection, CFPB, Fair Debt Collection Practices Act

JEL Classification: D18, H63

Suggested Citation

Berkness, Rachel and Dreschel, Margaret and Talbot, Logan and Selbin, Jeffrey, Model Fair Debt Buying Practices Act (February 28, 2014). UC Berkeley Public Law Research Paper No. 2403061. Available at SSRN: https://ssrn.com/abstract=2403061 or http://dx.doi.org/10.2139/ssrn.2403061

Rachel Berkness

University of California, Berkeley ( email )

Berkeley, CA
United States

Margaret Dreschel

University of California, Berkeley ( email )

Berkeley, CA
United States

Logan Talbot

University of California, Berkeley ( email )

Berkeley, CA
United States

Jeffrey Selbin (Contact Author)

University of California, Berkeley - School of Law ( email )

215 Boalt Hall
Berkeley, CA 94720-7200
United States

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