Dedicated to Deposits: Deals, Data, and Discussion
Featured Savings Rates
Featured Accounts

Debt Collection From The Departed Eased

Friday, July 22, 2011 - 10:03 AM
From TheStreet.com
The Federal Trade Commission on Wednesday finalized a policy for collectors who try to recoup debts from the dead, allowing them to contact friends and family directly.

Under the Fair Debt Collection Practices Act, collectors had been permitted only to contact a deceased debtor's attorney, spouse, parent or guardian (if the debtor was a minor), as other family members are not obligated to reconcile a relative's debt.

Collectors were also able to contact a dead debtor's estate executor or administrator to....

[Read more....]
4
WhataBummerWhataBummer413 posts since
Oct 15, 2010
Rep Points: 1,702
Reply