Sleazy Debt Collector Tactics

The debt collection industry is a growing industry in which agencies increasingly harass and badger consumers in to paying debts, some even debts that they do not owe. The Federal Trade Commission receives more complaints about the debt collection industry than any other industry.

Using harassing tactics, debt collectors often get consumers to pay a debt that they never even owed because many consumers feel paying these debts is the only way to make the harassment stop. The FTC has charged that as much as 80% of the money collected by one agency, Capital Acquisitions and Management (CAMCO), came from consumers who never even owed the original debt.

You may think to yourself, “I would never pay for a debt I didn’t owe” or “That would never happen to me”, but these consumers find that collectors are calling their friends, family and coworkers putting them in very embarrassing and unnecessary situations. They see the quickest resolution is pay the money. Or these debts arise as a consumer is applying for a loan for a car or a mortgage for a home and they’d rather pay than risk losing their loan. And others’ finances are in such disarray that they pay the debt not even realizing that it doesn’t belong to them.

It is extremely important for your financial future that you are organized and aware of everything happening within your financial portfolio of investments, debts, etc. And if you are accused of a debt that is not yours, do not let debt collectors harass you in to paying the debt. Harassment is illegal especially after you have asked them repeatedly to stop contacting you. This website contains great information about the steps you should take to fight back against debt collectors. Knowing your rights and how to handle the situation can save you time and money in the future and should you need the help of a fair debt lawyer to resolve the situation, most of the time if you have a valid case, the debt collector must pay your attorneys fees, so the help is free to you!