Inside the debt collection industry, money is a powerful motivator that prompts many debt collection agencies to cross the legal line. Original creditors like Best Buy and Bank of America have two ways to recover at least some of the money loaned to consumers.
First, original creditors have the option to pay a fee to third party debt collectors for the resolution of delinquent credit card and personal loan accounts.
As the more profitable way to work with original creditors, bill collectors can purchase consumer debts for a fraction of the initial amount owed. In both cases, debt collection agencies are tempted to violate one or more provisions of a landmark consumer protection law.
Passed into law by the United States Congress in 1977, the Fair Debt Collection Practices Act contains dozens of provisions that outlaw previously acceptable debt collection techniques.
Under the FDCPA, debt collection agencies such as Consumer Portfolio Services, Inc. are prohibited from trying to collect more than what is owed on a credit card or a personal loan balance.
Third party debt collectors cannot abuse consumers by using foul language or issuing threats of any kind.
Getting a Report to the State Attorney General
After writing the FDCPA into law, the United States Congress encouraged each of the 50 states to write their own versions of the consumer protection law.
Most states have adopted legal language that allows consumers to report FDCPA violations to the Attorney General Office. To get the most out of a report filed with your state Attorney General Office, you should work with a licensed consumer protection attorney who has a strong record of representing clients in FDCPA cases.
Your FDCPA lawyer will file a clearly written report providing detailed information about the FDCPA violations committed by Consumer Portfolio Services, Inc.
Reach Out to the Better Business Bureau
Since its inception in 1912, the Better Business Bureau (BBB) has acted as the most influential consumer advocacy group in the United States.
The BBB operates a web page for every American business that registers with the organization. By filing a report with the BBB about the illegal debt collection tactics implemented by Consumer Portfolio Services, you educate original creditors about the unethical debt collection practices used by the debt collection agency.
Most original creditors do not want to be associated with third party debt collectors that break the law to collect debts.
File a Lawsuit against Consumer Portfolio Services, Inc.
In addition to filing reports about FDCPA violations, your FDCPA attorney might decide to file a claim against Consumer Recovery Services.
Filed in a civil court, a lawsuit against a bill collector can seek both statutory damages and monetary damages. As a one-time award that cannot exceed $1,000, statutory damages cover every FDCPA provision violated by Consumer Recovery Services, Inc.
In addition to statutory damages, you might be eligible to receive compensation to cover the cost of attorney fees. The judge presiding over your case has the option to provide injunctive relief that prevents future debt collection efforts made by a debt collection agency.
Schedule a free initial consultation with a FDCPA lawyer today to learn more about where to report an FDCPA violation against Consumer Portfolio Services, Inc.
*Disclaimer: The content of this article serves only to provide information and should not be constructed as legal advice. If you file a claim against Consumer Portfolio Services, Inc. or any other third-party collection agency, you may not be entitled to any compensation.