The upside for consumers? If you have sued debt collectors over illegal collection attempts in the past, they may be less likely to harass you in the future. They will now know that you know your rights!
Here's a portion of the press release
"This is a great day for agencies, debt buyers, and creditor rights law firms," said Bill Pinkney, founder of FDCPA Case Listing Service LLC.
According to FDCPA Case Listing Service, 5,383 cases were filed in 2008 against collection agencies in U.S. District Court for alleged violations of the Fair Debt Collections Practices Act (FDCPA).
This represents a 41 percent increase in FDCPA litigation in 2008 in Federal Court over 2007 case volumes.
Case volumes in 2009 are expected to exceed 7,300 for the calendar year.
For more info on your rights under the Fair Debt Collection Practices Act see a few earlier blogs here;
Debt Collectors Hounding you?