Monday, April 26, 2010

Debtorboards: Solution to Consumers’ Debt Issues

Most consumers encounter issues and problems with their debts. To add, debt collectors seem a villain for those who have dues. Solution to this has come… the answer is Debtorboards.
Mr. Katz stated: “Debtorboards is geared to help people use the laws as they are on the books as both a shield and a sword.”. He received $36,000 from his own court case against the collection agencies. Of course, debt collectors are not that satisfied with the court case trend. Rozanne M. Andersen, Chief executive of ACA International, stated that she is affected with the increasing lawsuits, which she said cost her industry hundreds of millions of dollars a year. She said much of the raise was the effect of unclear language in the Fair Debt Collection Act. With this, Debtorboards could add challenge on the part of the debt collectors.

Debt collectors are compelled, for instance, to be familiar with them on a voice message left for a consumer, she said. But they are also outlawed from telling a third party — counting someone who might overhear a phone message — about a consumer’s debt. As added by Ms. Andersen: “We are between a rock and a hard place.” “We believe those types of Web sites are encouraging people to not take responsibility for just debt,” she added.

Debtorboards may assist consumers with their debt issues. On the other hand, Debtorboards could bring difficulties from debt collectors in pursuing their clients or consumers.