Archive for June, 2008
New York Assembly OK’s Broad Debt Collection Abuse Protection For Consumers
In an effort to protect consumers from the “exploding” debt collection industry, the state Assembly has passed a series of bills aimed at curbing abusive and unfair debt collection practices in New York State, Assemblymember Audrey Pheffer announced. Pheffer said she sponsored the legislation as a result of the dramatic increase in the number of [...]
Read Full Post | Make a Comment ( None so far )FTC Sues Subprime Marketing Company and Debt Collector for Deceptive Credit Card Marketing
The Federal Trade Commission today announced the filing of a lawsuit charging CompuCredit Corporation and its wholly-owned debt collection subsidiary, Jefferson Capital Systems, LLC, with deceptive marketing practices in selling credit cards to consumers in the subprime market. The FTC’s complaint charges both defendants with violations of the FTC Act and Jefferson Capital with violations [...]
Read Full Post | Make a Comment ( None so far )Debt Collectors Pushing To Get Their Day In Court
Cook County Circuit Court has been turned into a frenetic debt collections machine, a reflection of easy credit gone sour and a collections industry determined to get paid. More than 119,000 civil lawsuits against alleged debtors are clogging courtrooms, and at least half will result in judgments that debt collectors will use to dock wages, [...]
Read Full Post | Make a Comment ( None so far )More People Complain About Debt Collectors
With more people falling behind on their consumer loan payments, regulators and consumer advocates say they’re seeing a surge in aggressive — and sometimes questionable — debt-collection tactics. Complaints against debt collectors, after plunging in 2005, are rising again, the Council of Better Business Bureaus says. Complaints surged 20% in 2006 and 26% in 2007, [...]
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