Evaluating the Effectiveness of the Connecticut Creditors’ Collection Practices Act of 2016

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Summary

The Connecticut Creditors' Collection Practices Act of 2016 aims to assess its effectiveness in reducing creditor harassment and promoting fair debt collection practices. The multi-method approach uses court decisions, consumer complaints, and compliance reports from the Connecticut Department of Banking. Initial findings show a significant decline in registered complaints related to creditor harassment and abuse, indicating the Act's effectiveness. However, the long-term impact remains to be seen due to the increasing complexity of debt instruments and collection methods.