RE: Chase Manhattan/Phillips & Cohen Collectors

Posted by David Cyrus Koupai (4.40.121.92) on July 10, 2004 at 20:31:55:

In Reply to: Re: Chase Manhattan/Phillips & Cohen Collectors posted by Valerie on March 05, 2004 at 16:37:19:

Unpaid credit card revolving open-book accounts are unsecured debts. There is no securitized assets that are backing the account when a Debtor defaults on payments.

The Congress has enacted two statutes that protect consumers from abuse by the credit industry. These are the FCRA & FDCPA.

Third party debt collection agencies are required to willfully comply or abide by provisions of the federal Fair Debt Collection Practices Act (FDCPA).

If you would like to know your consumer rights, then I would strongly recommend that you learn as much as possible about these protections to consumers under FDCPA.

The probabilities that Phillips and Cohen are transgressing over debt validation requirements are high.

A good site to visit is:

www.budhibbs.com

There is lots of good information available for research on the internet.

Do not subsidize corrupt organizations looking for a free ride.

Sincerely,

David Cyrus Koupai
Executive Director/Credit Analyst

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