Debt collectors pledge fair practices

The standard debt collection process is an abuse of the judicial process and will face reform in the near future, according to Bill Bartmann, the CEO and founder of the collection agency CFS II.

“Debt collectors have developed some very nasty habits over the past five years or so,” Bartmann said. “They sue millions of people every year based on nothing more than a name on a list. They mislead courts about facts they cannot prove. It is a practice of ‘sue ‘em all and let God sort them out.”

Bartmann said that the unscrupulous practice will change in the near future.

Along with other debt collectors, Bartmann has launched a national reform initiative and wrote a debt collector pledge.

The pledge includes vows that include never filing a lawsuit for collection of a credit card debt and never charging interest on a credit card debit that was charged off by the original issuer.

So far, 216 debt collection companies have signed the pledge.

Several states across the country have recently amended their laws to reign in the unfair practices of debt collectors.

"In the U.S. justice system, you're innocent until proven guilty," Bartmann said. "The same should be true in collections. Nine out of 10 times, customers want to pay you. If they do not, you need to start with the assumption that they have valid reasons."

One Response to Debt collectors pledge fair practices

  1. Pingback: Debt Collection Process » Credit Newsline » News » Debt collectors pledge fair…