Welcome!

News Feed Item

Important Reminders for California Consumers During National Financial Literacy Month

SACRAMENTO, Calif., March 27, 2014 /PRNewswire-USNewswire/ -- April is National Financial Literacy month and the California Association of Collectors wants to remind California consumers they have important rights if contacted by a debt collector about a delinquent or defaulted account.

"Millions of consumers per year may find themselves behind on payments and are contacted by a creditor or debt collector," California Association of Collectors President Matt Logan said.  "While no one ever wants to get a call or letter telling them they owe money, consumers need to know they are protected by very important federal and state laws."

America's economy relies on the repayment of consumer credit such as loans, credit cards, and bills for services rendered to keep costs down and ensure the availability of affordable credit. Federal, state, and local governments in the public sector also rely on the repayment of billions of taxpayer owed dollars in delinquencies including student loans, uncollected court fees, unpaid taxes, library fines, and traffic tickets. The following are helpful tips for California consumers who may be contacted about a rightfully owed debt:

Know Your Rights.  As the old adage goes, knowledge is power. Debt collection professionals have created a valuable resource called www.askdoctordebt.org to provide consumers with important information about their rights if contacted about a delinquent or defaulted debt.

Communicate.  Ignoring a creditor or debt collector does not make the debt go away. In fact, it can make the situation worse.  Communication is an important ally in taking control and working to resolve the reason for being contacted. It's a critical step in finding a consumer-friendly solution. If not the right person, it's important to correct this information. Similarly, communication provides an opportunity to resolve concerns or complaints.

Identification is Important.  By law, a debt collector may not give out information about the existence of a debt to anyone other than the consumer or their attorney so they must confirm a consumer's identify before discussing specifics about an account. When debt collectors contact consumers they identify themselves by their company name so it can be confusing in that the consumer may have never heard of the business.  Once a consumer has been properly identified, the collector can then reveal details about the debt.

Consumers have a Right to Dispute the Validity of the Debt.  Third-party debt collectors work on behalf of their creditor clients to recover rightfully owed consumer obligations. By law, the collector must inform consumers of their right to dispute the debt and provide written verification if you dispute it in writing.  Typically, collection activity stops until this verification is provided.  

Active Military have Special Privileges.  The Servicemembers Civil Relief Act (SCRA) allows active military and, in a few cases, non-service members, to suspend or postpone certain civil obligations. A lender, creditor or insurer is prohibited by law from taking any adverse actions against military personnel because they exercised their rights under SCRA, which can only be exercised while engaged in active duty; including full-time training; annual training duty; and attendance at a service school while in active military service.

Protect Personal and Financial Information.  Monitor accounts and immediately report any suspicious or unauthorized purchases to the bank or credit card provider.  Consumers should monitor their credit report and report identity theft by contacting the local police department and visiting www.ftc.gov/idtheft.

The California Association of Collectors is a state Unit of ACA International (www.acainternational.org), the comprehensive, knowledge-based resource for the credit and collection industry. Founded in 1939, ACA brings together more than 350,000 professionals representing third-party collection agencies, asset buyers, attorneys, creditors and vendor affiliates. ACA supports members through state and federal advocacy, training and resources.   

Contact: Mark Schiffman, PR Director
Tel. (952) 259-2124 or [email protected]

SOURCE California Association of Collectors

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Everyone wants to use containers, but monitoring containers is hard. New ephemeral architecture introduces new challenges in how monitoring tools need to monitor and visualize containers, so your team can make sense of everything. In his session at @DevOpsSummit, David Gildeh, co-founder and CEO of Outlyer, will go through the challenges and show there is light at the end of the tunnel if you use the right tools and understand what you need to be monitoring to successfully use containers in your...
Developers want to create better apps faster. Static clouds are giving way to scalable systems, with dynamic resource allocation and application monitoring. You won't hear that chant from users on any picket line, but helping developers to create better apps faster is the mission of Lee Atchison, principal cloud architect and advocate at New Relic Inc., based in San Francisco. His singular job is to understand and drive the industry in the areas of cloud architecture, microservices, scalability ...
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at Dell EMC, introduced a methodology for capturing, enriching and sharing data (and analytics) across the organization...
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
Grape Up is a software company, specialized in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the USA and Europe, we work with a variety of customers from emerging startups to Fortune 1000 companies.
Financial Technology has become a topic of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 20th Cloud Expo at the Javits Center in New York, June 6-8, 2017, will find fresh new content in a new track called FinTech.
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...
@DevOpsSummit at Cloud taking place June 6-8, 2017, at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developm...
Multiple data types are pouring into IoT deployments. Data is coming in small packages as well as enormous files and data streams of many sizes. Widespread use of mobile devices adds to the total. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the tools and environments that are being put to use in IoT deployments, as well as the team skills a modern enterprise IT shop needs to keep things running, get a handle on all this data, and deli...
The age of Digital Disruption is evolving into the next era – Digital Cohesion, an age in which applications securely self-assemble and deliver predictive services that continuously adapt to user behavior. Information from devices, sensors and applications around us will drive services seamlessly across mobile and fixed devices/infrastructure. This evolution is happening now in software defined services and secure networking. Four key drivers – Performance, Economics, Interoperability and Trust ...
In recent years, containers have taken the world by storm. Companies of all sizes and industries have realized the massive benefits of containers, such as unprecedented mobility, higher hardware utilization, and increased flexibility and agility; however, many containers today are non-persistent. Containers without persistence miss out on many benefits, and in many cases simply pass the responsibility of persistence onto other infrastructure, adding additional complexity.
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Cloud Expo, Inc. has announced today that Aruna Ravichandran, vice president of DevOps Product and Solutions Marketing at CA Technologies, has been named co-conference chair of DevOps at Cloud Expo 2017. The @DevOpsSummit at Cloud Expo New York will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and @DevOpsSummit at Cloud Expo Silicon Valley will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Most companies are adopting or evaluating container technology - Docker in particular - to speed up application deployment, drive down cost, ease management and make application delivery more flexible overall. As with most new architectures, this dream takes a lot of work to become a reality. Even when you do get your application componentized enough and packaged properly, there are still challenges for DevOps teams to making the shift to continuous delivery and achieving that reduction in cost ...
Translating agile methodology into real-world best practices within the modern software factory has driven widespread DevOps adoption, yet much work remains to expand workflows and tooling across the enterprise. As models evolve from pockets of experimentation into wholescale organizational reinvention, practitioners find themselves challenged to incorporate the culture and architecture necessary to support DevOps at scale. In his session at @DevOpsSummit at 20th Cloud Expo, Anand Akela, Senior...