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Closing The Cracks And The Courts: A Comparative Analysis Of Debt Collection Regulation In The United Kingdom And The United States, Tasia S. Harris, Candidate For Doctor Of Jurisprudence

Vanderbilt Journal of Transnational Law

Consumers who borrow from a lender today cannot count on dealing with that same lender later if they default on their debt. In today's world of debt collection, the lender will outsource collection to a thirdparty debt collector, or those consumers' defaulted debt will be bought and sold numerous times for pennies on the dollar until eventually a debt buyer decides to pursue payment. Either way, under the current US debt collection laws and regulations, both third-party debt collectors and debt buyers can act outside the scope of debt collection regulation in the United States, and many will take that …