I believe this is probably a very simple question for most of you out there. It is related to collection efforts.

I understand that you cannot repossess, judgment, legal action, etc. if a loan is covered under this act. However, if a customer quites paying, are you permitted to make a call to them to prompt payment?

IMO you can certainly ask when payment is expected. Remember if they are overseas, that in many cases it may not be easy for the customer to respond. If stateside, and other than boot camp, I don't see a problem for the borrower to respond.

SSRA is not a get out of debt free regulation. It does delay legal action but does not prohibit reporting to credit bureaus or sending past due notices or making collection calls. It won't do any good to call and threaten something that you cannot enforce, so if the borrower is cooperative,its best to work out a mutually agreed repayment program.

I see nothing wrong with this. It may be an oversight that needs their attention. Johnny is going overseas. He asks his friend to pay his bills. He doesn't know his friend is spending all his money until you contact him. Does this happen, you betcha. Johnny came home, his money was gone, he was overdrawn, furniture and tires were sold and friend MIA.

Thanks for the feedback... greatly appreciated.