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CAI call to regulate debt collectors.
(From Irish Independent)
THE Consumers' Association of Ireland has called for legislation to regulate debt collectors, accusing some firms of intimidation.
Unlike other countries, debt collectors are not licensed in Ireland. This regulation gap has allowed some "cowboys" to jump through the legal loophole, according to the CAI.
There is a need to have a debt collection licensing provision under the Consumer CreditAct.
The current edition of the CAI's magazine,Consumer Choice, quotes umbrella bodyfor debt collection agencies, the Irish Institute of Credit Management, supporting the call.
CAI researcher Louise McBride comments inConsumer Choice: "Although theConsumers' Association of Ireland does not condone those who fail to pay their debts, wecannot see ...
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