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Debt Collection

Frightening Calls From Fake Debt Collectors Threaten People With Jail for Payday Loans. It’s a Scam.

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Phantom phony debt collectors with Indian accents are calling people trying to scare them into paying debts that are not theirs. Some of the company names they use are American Credit Services, TAC Evolution, Allied Financial Services, CashNetUSA, Sonic Bank, Sonic CashNet, CashLand, and Cash America. If you know of others, please add them in the comments section below. The ... Read More »

Collection Lawyer Blames Wrong Man for Allowing Himself to be Sued.

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Now here is a story that made me laugh. Picture this, a collections firm sues a man over a debt that isn’t his and the lawyer, in front of the judge, accuses the man of allowing himself to be sued even though he told the collections company he was the wrong guy. Under questioning by the judge, Mr. Hoyte recounted ... Read More »

Debt Collector That Called People Loser for Not Paying Their Debts Just Went Bankrupt

I don’t think people who go bankrupt are losers or morally corrupt. Most people are just good people stuck in the middle of a really bad situation. But people do feel bad about the situation and often feel less than whole for having lived through the need to file bankruptcy. But I could not help chuckle at the irony here ... Read More »

New York Files Criminal Charges Against Debt Collectors

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Attorney General Andrew M. Cuomo today announced the filing of criminal charges against 12 employees of several Buffalo-area debt collection companies for posing as law enforcement officials and threatening to have consumers thrown in jail unless they immediately paid off the debts that they supposedly owed. All of the individuals charged today worked for one or more of the debt ... Read More »

NY AG Goes After a Group of Buffalo Debt Collectors For Using Verbal Abuse and Sexual Harassment to Collect

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Attorney General Andrew M. Cuomo today announced that his office has filed a lawsuit seeking to shut down a Buffalo-based debt collection operation consisting of 13 debt collection companies run by Buffalo residents Omar Smith, Narvell Benning and Keith Marshall (collectively, the “Benning-Smith Group”). Today’s announcement is the latest action in Attorney General Cuomo’s ongoing investigation of unlawful debt collection ... Read More »

Missouri Attorney General Goes After Portfolio Recovery Associates and Professional Debt Management

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Attorney General Chris Koster today filed suit against two debt collection companies that are operating scams to collect debts from citizens who do not owe the money. Koster filed law suits in St. Louis against Portfolio Recovery Associates, a public company based in Virginia, and Professional Debt Management located in Kansas City. Koster said Portfolio buys old and bankruptcy-discharged debt, ... Read More »

New York State Shuts Down Debt Collection Companies That Used Illegal Scare Tactics

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Attorney General Andrew M. Cuomo announced that his office has shut down a New York collection operation that consisted of at least nine debt collection companies across Western New York, run by Buffalo resident Tobias Boyland. This is the latest action in Attorney General Cuomo’s ongoing investigation of unlawful debt collection practices. According to hundreds of consumer complaints filed with ... Read More »

Attorney General Reaches Deal With Debt Collection Companies Over Deceptive Practices

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New York Attorney General Andrew M. Cuomo today announced that his office has reached an agreement with three New York debt collection companies that failed to adequately supervise employees who engaged in deceptive and fraudulent methods to collect debts. The three companies, Creditors Interchange Receivable Management, LLC, Capital Management Services, LP and Tri-Financial, LLC, have agreed to substantially reform their ... Read More »

New York Attorney General Launches Inquiry Into Debt Collection Companies

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ATTORNEY GENERAL CUOMO LAUNCHES INQUIRY INTO DEBT COLLECTORS ACROSS NEW YORK STATE Cuomo Shuts Down NY Collection Agencies That Threatened and Intimidated Consumers Into Paying Debts They Didn’t Owe Sends Subpoenas to Nearly 20 Debt Collectors Statewide Attorney General Andrew M. Cuomo today announced that his office has launched a statewide inquiry into debt collection companies. As part of the ... Read More »

Debt Collectors Agree to Not Chase Debtors for 30 Days

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Collections agencies in the UK have agreed not to chase debts for 30 days when debtors seek advice from accredited debt management companies. The 30 day breathing space, agreed between the Department of Business, Enterprise and Regulatory Reform (BERR) and the Credit Services Association (CSA), will start once an accredited debt management company has been appointed to help a debtor. ... Read More »

Video of Debt Collectors That Pose as Police to Scare People to Pay or They Go Directly to Jail

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There are plenty of respectable and good debt collectors that run their business in compliance with local and federal laws. And then there are the collection companies that engage in abusive practices and behavior. For those of us that regularly work with people in debt it is hard to not become distrustful or develop a strong dislike for debt collectors ... Read More »

Collection Agent Trying Not to Use Violence

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A recent article in the Christian Science Monitor just exemplifies how different consumer debt rules are around the world. In some areas debt collectors can intimidate you and in other parts of the world they can come to your home and office and shame you, grab you or break in. The article is about debt problems in India and my ... Read More »

Apparently Being Dead and Cold Is Not Enough to Stop Debt Collectors

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WASHINGTON – A senior senator is asking the Federal Trade Commission to investigate reported instances of debt collection firms asking people to pay their dead relatives’ credit card bills or other debts. Sen. Charles Schumer, D-N.Y., a member of the Senate Banking Committee, met Tuesday with the new chairman of the FTC, Jon Leibowitz, and requested that the agency look ... Read More »

American Corrective Counseling Services (ACCS) and the Bounced Checks

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In an effort to help state governments deal with bounced and bad checks, some states have outsourced the dealings with the checks to for-profit debt collectors like American Corrective Counseling Services in California. ACCS has relationships with about 150 county District Attorney (DA) offices. In return for the referral of cases to ACCS, the local DA offices get a cut ... Read More »

Reforms Recommended for Debt Collectors and Debt Collection Industry

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The Federal Trade Commission issued a report today recommending that the debt collection legal system be reformed and modernized to reflect changes in consumer debt, the debt collection industry, and technology. The report describes the changes the FTC believes will provide better consumer protection without unduly burdening the debt collection industry. The Commission also issued its 31st annual report to ... Read More »

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