At the very least, falling behind on bills is a major distraction that can disrupt your career. If a debt collection agency like Capio Partners, LLC gets involved in your financial mess, what has been a major disruption will morph into a full blown crisis. Many third party debt collectors continue to violate a federal consumer protection law, including the time honored tactic of contacting third parties regarding consumer debt.
Capio Partners, LLC has plenty of motivation to come hard after you. Original creditors either hire a company to collect a debt or they sell outstanding credit card and personal loan accounts for a fraction of what was originally owed. In some cases, a bill collector can earn more than a 100% profit by collecting the full amount on a consumer debt. Large profit margins turn many debt collection agencies into rogue businesses that violate one or more provisions of a groundbreaking consumer protection law.
How a Consumer Protection Law Addresses Third Party Contacts
Initially, the United States Congress wrote the Fair Debt Collection Practices Act (FDCPA) into law primarily to end severe harassing and intimidating debt collection tactics. Towards the end of the legislative crafting process, a few members of the House of Representatives added a provision to the FDCPA that addresses a subtler form of harassment and intimidation.
The motivation for a bill collector to contact a third party regarding your debt is to shame you into paying off a delinquent credit card or personal loan account. Nothing is more effective to persuade consumers into getting their financial houses in order than to use peer pressure. However, the FDCPA Prohibits Capio Partners, LLC from discussing your debt with anyone but you.
Discussing a consumer debt with a third party can take many forms. Capio Partners, LLC might call a neighbor to ask if the neighbor was aware of the debt in question. The company also violates the FDCPA by demanding the payment of your debt from a close friend. Simply contacting a third party does not violate the FDCPA, as Capio Partners, LLC is allowed to reach out to a third party for obtaining your contact information. According to the FDCPA, contact information is limited to your home address, as well as the best number to reach you during the day.
Other Exceptions to the Third Party Provision
In addition to being permitted to contact a third party to acquire your contact information, Capio Partners, LLC has the right to speak with the co-signee of a credit card or a personal loan application. Anyone who cosigns a personal loan or a credit card application is legally bound to fulfill the financial contract. A debt collection agency can also reach out to third party if a consumer gives the company permission to make contact with the third party. Federal consumer protection law makes it clear that a bill collector can contact a third party just one time.
Dealing with the third party contact made by a debt collection agency can trigger an incredible amount of anxiety. Never allow a third party debt collector bully you into paying off a debt by speaking with a licensed consumer protection attorney who has successfully litigated several FDCPA cases.
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*Disclaimer: The content of this article serves only to provide information and should not be construed as legal advice. If you file a claim against Capio Partners, LLC or any other third-party collection agency, you may not be entitled to compensation.