Do Third Party Debt Collectors Deserve Empathy?
An online article written and published by the debt collection industry’s own Inside ARM(Account Receivables Management) attributes a large percentage of the grief inflicted on consumers by debt collectors to the creditors that hire these third party debt collectors to collect overdue bills on their behalf. According to the article entitled “Creditors Play an Unrecognized [...]
Read Full Post | Make a Comment ( None so far )New Website Set Up by Debt Collectors Seeking Respect
The debt collection industry is tired of being treated poorly by the debtors they are attempting to collect an alleged debt from, according to an article in the New York Times. The Association of Credit and Collection Professionals(ACA Int’l), has launched a website, askdrdebt.com to answer pertinent consumer questions about everything debt. However, the site [...]
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 )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, [...]
Read Full Post | Make a Comment ( None so far )69,204 Complaints Filed Against “Bad Debt Collectors” According To FTC Report
A report published by the FTC found that 69,204(!) complaints were filed in 2006 against third party debt collectors who acted abusively or in violation of the FDCPA(Fair Debt Collections Practice Act). Yet,the FTC filed only 3 lawsuits against debt collectors in the past year, 2 of these settled and 1 went to court. With [...]
Read Full Post | Make a Comment ( None so far )Debt Collection – What Are My Rights?
Fair Debt Collection If you use credit cards, owe money on a personal loan, or are paying on a home mortgage, you are a “debtor.” If you fall behind in repaying your creditors, or an error is made on your accounts, you may be contacted by a “debt collector.” You should know that in either [...]
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