Deborah Koff Ross: “Debt collectors often operate with impunity, threatening servicepeople, denying small business owners due process, and…”

“Debt collectors often operate with impunity, threatening servicepeople, denying small business owners due process, and harassing customers and homeowners with repeated calls, texts, and emails. Harassment by debt collectors negatively affects students' career decisions, small business growth, homeownership, and families' financial stability. It hurts the economy and amplifies racial, gender, and socioeconomic inequities across the Nation. For example, rates of student loan distress are especially concentrated among low-income borrowers, borrowers in rural areas, and borrowers of color. Debt collectors incessantly contacting borrowers without consent adds another layer of loan distress, particularly during this pandemic. This is why I introduced an amendment to this bill that requires a GAO investigation of communications by debt collectors, including specific recommendations for Congress to reduce the harassment and abuse of individuals with debt. The Comprehensive Debt Collection Improvement Act is critical to protecting students, servicemembers, small business owners, and consumers with debt from predatory practices. I urge my colleagues to support this entire legislation. It is important for the dignity of the average borrower in this country.”