Digital Debt Collection: Opportunities, abuses and concerns
Publikation: Bidrag til bog/antologi/rapport › Bidrag til bog/antologi › Forskning › fagfællebedømt
Standard
Digital Debt Collection : Opportunities, abuses and concerns. / Stanescu, Catalin Gabriel.
Discrimination, Vulnerable Consumers and Financial Inclusion: Fair Access to Financial Services and the Law. red. / Cătălin-Gabriel Stănescu; Asress Adimi Gikay. 1st. udg. Routledge, 2020.Publikation: Bidrag til bog/antologi/rapport › Bidrag til bog/antologi › Forskning › fagfællebedømt
Harvard
APA
Vancouver
Author
Bibtex
}
RIS
TY - CHAP
T1 - Digital Debt Collection
T2 - Fair and non-discriminatory access to financial services
AU - Stanescu, Catalin Gabriel
PY - 2020/12
Y1 - 2020/12
N2 - This chapter aims to analyze the impact of digitalization of nonjudicial debt collection on consumer-debtor protections, using as an example the federal Fair Debt Collection Practices Act (FDCPA) in the United States of America (US). It introduces the reader to the “classic” concept of debt collection, the policies behind the FDCPA, and the protections granted by the US Congress to consumer-debtors against abusive debt collection practices, focusing on three aspects: the protection of debtor’s privacy, the ban of misleading and abusive practices, and the right of the consumer-debtor to dispute the debt. It then presents the concept of digital debt collection and shows how technological innovation is used by the debt collection industry to circumvent the law and bypass the statutory protections of the FDCPA. Using specific examples from practice and patent descriptions of debt collection software, the paper argues that digital debt collection reverses the communication pattern assumed by the FDCPA, overturns the consumer’s privacy rights, turns the validation of the debt into a public exercise, and misleads consumers into sharing more data than they should. The paper concludes that the FDCPA is too static and ill-equipped to adequately protect consumers against the challenges posed by the digital age, thus requiring amendments and improvements.
AB - This chapter aims to analyze the impact of digitalization of nonjudicial debt collection on consumer-debtor protections, using as an example the federal Fair Debt Collection Practices Act (FDCPA) in the United States of America (US). It introduces the reader to the “classic” concept of debt collection, the policies behind the FDCPA, and the protections granted by the US Congress to consumer-debtors against abusive debt collection practices, focusing on three aspects: the protection of debtor’s privacy, the ban of misleading and abusive practices, and the right of the consumer-debtor to dispute the debt. It then presents the concept of digital debt collection and shows how technological innovation is used by the debt collection industry to circumvent the law and bypass the statutory protections of the FDCPA. Using specific examples from practice and patent descriptions of debt collection software, the paper argues that digital debt collection reverses the communication pattern assumed by the FDCPA, overturns the consumer’s privacy rights, turns the validation of the debt into a public exercise, and misleads consumers into sharing more data than they should. The paper concludes that the FDCPA is too static and ill-equipped to adequately protect consumers against the challenges posed by the digital age, thus requiring amendments and improvements.
UR - https://www.routledge.com/Discrimination-Vulnerable-Consumers-and-Financial-Inclusion-Fair-Access/Stanescu-Gikay/p/book/9780367511111
U2 - 10.4324/9781003055075-11
DO - 10.4324/9781003055075-11
M3 - Book chapter
SN - 9780367511111
BT - Discrimination, Vulnerable Consumers and Financial Inclusion
A2 - Stănescu, Cătălin-Gabriel
A2 - Adimi Gikay, Asress
PB - Routledge
Y2 - 26 September 2019 through 27 September 2019
ER -
ID: 247687158