Archive for June, 2009
The Basics of Debt Collection
Debt Collection has become a $15 Billion dollar a year industry and is continuing to grow quickly. Many companies buy zombie debts for pennies on the dollar in an attempt to recover what is owed. As you can imagine, many of these debts are credit card debts but they also stem from cell phone companies, [...]
Read Full Post | Make a Comment ( None so far )Zombie Debt: What it is & how to get rid of it
When you hear the term “Zombie Debt” it refers to an old debt purchased by debt collectors hoping they can intimidate consumers into paying the debt. In the past, few creditors attempted to collect on old debts thinking it was not worth the effort. Today, however, aggressive debt collectors are buying these charged off debts [...]
Read Full Post | Make a Comment ( 1 so far )Collector Abuse Lawsuits Stem New Businesses
The federal Fair Debt Collection Practices Act protects consumers from debt collector abuse. If a consumer feels that they are a victim of collector harassment or abuse, they can file a lawsuit and be rewarded damages. Over the last several years, the number of cases brought by consumers each year has been growing in exponential [...]
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