Shameless plug: That's exactly why we started TrueAccord (www.trueaccord.com).
1. People in debt aren't "deadbeats" and deserve to be treated well
2. Using technology to make the process about financial health and treating people like regular customers makes a huge difference
And that's why FDCPA litigation is decreasing and TCPA litigation is growing. Path of least resistance. Though, you have to admit, practices and law governing UDAAP isn't as clear as the FDCPA examples you bring here.
Thanks for the mention! I'm one of the cofounders. We're already making a huge difference in debt collection for several leading technology companies. We had to rethink a lot of the core solutions and technologies for debt collection to not fall into the same traps.
True. Actually, the majority of consumers that go through debt settlement end up bankrupt anyway. Some blame the fees, but I don't have data to substantiate that.
I think that happens because they are focused on one thing: trying to get money from people who don't have it. But what happens if they help people create money that will pay for the debt? That's one of the things we're trying to do.
Absolutely possible - just need to have the right mindset and tools. As someone who started a startup that's reinventing how debt collection gets done, I see a lot of old-school collectors who'd never be able to break the mold because their financial incentives aren't aligned. They don't have the technology, thus do not have the efficiency and margin, to operate ethically. They have to make money off of fees and interest so they end up focusing on people who can pay, making their lives harder, and having them end up in worse financial standing than if they chose not to pay.
https://jobs.lever.co/trueaccord