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Debt Collection

MBNA Accused of Torturing Cardholder in UK

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Story reported by BBC. MBNA bank has been accused by a High Court judge of “torturing” a customer with repeated phone calls demanding he repay his credit card. Keith Harrison had his debt of £20,270 written off by the judge, Nicholas Chambers QC, at Mold in North Wales. The judge said MBNA had failed to give Mr Harrison the terms ... Read More »

    Fair Debt Collection Practices Act Provides New Business Opportunities To Some Lawyers

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    The 1977 federal law to protect consumers from abusive debt collectors, better known as the Fair Debt Collection Practices Act (FDCPA) has molded a profitable business opportunity for some lawyers. Some lawyers are using the law as a tool for lawsuits which results in some cases avoiding litigation in favor for quick settlements. Colorado has become one of the nation’s ... Read More »

      Former Asset Acceptance Employee Alleges FDCPA Abuses

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      I worked for asset acceptance a debt collection company that purchases debt they have 5 US locations and a huge call center in India. Since the company has good old Rion Needs from Amex all of the US jobs have threatened, basically forcing reps into breaking FDCPA rules to collect more money. What happens is that most people don’t report ... Read More »

        Debt Collector Robo-Signers a Bigger Mess Than Foreclosures

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        The New York Times is reporting debt collection agencies have been robo-signing even more files than have mortgage companies for foreclosures. The robo-signing is a big deal because before a creditor moves against a consumer they are supposed to review the file and complete an affidavit the information they are stating is true and accurate. The courts depend on the ... Read More »

          When Debt Collectors Go Wild, It’s Not Sexy. Listen.

          A tipster (send in your tips here) sent in an email with a link to a story about some Bank of America debt collectors that seem to have lost their m***** f****** minds. The debt collector on tape had been hired seven months after he left jail on a six year stretch. The video below includes testimony from the collector ... Read More »

            Man Charged With Running Debt Collection Company From Prison

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            New York Attorney General Andrew M. Cuomo announced criminal charges against Lamont Cooper, 38, formerly of Heritage Drive in Lancaster, for allegedly operating his Buffalo-based debt collection agency while incarcerated in federal prison on unrelated charges. Cooper was previously barred by court order from the debt collection industry in 2009 after Attorney General Cuomo’s Office determined that his operation regularly ... Read More »

              Debt Collector Asks Woman How Her Dead Daughters Must Feel Knowing She’s Not Paying Her Student Loan

              In a case against Premiere Credit of North America by Holly Owens, she alleges that she was abused by a debt collector and in an attempt to collect a debt. If what is alleged in the complaint is true, the debt collector stepped waaaaay over the line. Here is what the complaint says. I’ve bolded the most disturbing part for ... Read More »

                “The Collector’s Pledge” Marks a Positive Turn in the Debt Collection Industry

                Martin Sher of AmSher Receivables Management in Birmingham, Alabama has recently made a huge step in the debt collection industry with “The Collector’s Pledge”. Sher, with over 30 years experience in the credit and collection industry was named as the president of ACA International (the Association of Credit and Collection Professionals) for 2010-2011. Sher co-owns AmSher Receivables with his brother, ... Read More »

                  Mickey Rourke Opens Up About His Job as a Mob Debt Collector

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                  Another episode of before they were stars. Get Out of Debt Guy – Twitter, G+, Facebook Need More Help? Read More »

                    Lawyers Profit Off Debt Collectors

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                    Interesting article from News Chief in Winter Haven, Florida. Attorney Pete Barry points expectantly at the video screen, drawing the attention of 16 attorneys in a hotel conference room who have come to learn his trade secrets. On the screen, a debt collector with spiky hair is squirming, his eyes darting back and forth as Barry barrages him with questions. ... Read More »

                      In China, Credit Card Debt Enslaves. Anyone Surprised?

                      It isn’t a big shock to find out that the credit craze and panic is exploding around the world. The credit craze and panic works like this: Stage One: Craze – apply and get approved for credit and go crazy racking up the balance. Stage Two: Panic – after you’ve expended your credit resources you panic as you try to ... Read More »

                        The Debt Collection Industry From The Eyes of Former Debt Collectors

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                        CNNMoney.com released a fascinating showcase of the life behind closed doors of debt collectors. They took ten different collectors ranging in 2 – 20 years of service in the field of debt collecting and asked their insight and thoughts on the debt collection industry and process of today. The interviews were very nicely balanced between collectors that either enjoyed their ... Read More »

                          FTC Hopes to Eradicate Broken Debt Collection Litigation and Arbitration

                          A report released by the Federal Trade Commission Monday featured the FTC’s complaints about debt collection in our country today. The report featured the conclusion that “consumers are not adequately protected in either debt collection litigation or arbitration.” The FTC put forth recommendations to both the federal and state governments on how to make the debt collecting system “both efficient ... Read More »

                            Courts Slammed With Automated Debt-Collection Lawsuits

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                            It is not unusual for me to hear from people in the debt relief world, “Oh the creditor won’t want to sue the consumer, it costs the creditor money.” I chuckle inside when I hear that. It’s so not true. While that might be logical, logic and creditors have never walked hand-in-hand. Out of New York comes a story about ... Read More »

                              Caught In The Web : Debt Collectors Find Fleeting Debtors Via Social Networking Websites

                              I feel the personal need to thank a one, Vanessa Romo, a reporter at NPR for her most recent and compelling article “Elusive Debtors Foiled By Their Social Media Sites“. This article delved into a world I had never considered existed. No not Pandora, but a realm of debt collectors using social media and networking sits to collect debts owed. ... Read More »

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