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Tag Archives: Debt Buyers

So Sue Them: What We’ve Learned About the Debt Collection Lawsuit Machine

It might not be right but it is what it is. Debt collectors and others know how to get you to do what they want by pushing your fear buttons. They do it because it works.

by Paul Kiel ProPublica, May 5, 2016, 8 a.m. Millions of Americans live with the possibility that, at any moment, their wages or the cash in their bank accounts could be seized over an old debt. It’s an easily ignored part of America’s financial system, in part due to a common attitude that people who don’t pay their debts deserve ... Read More »

    Chase Bank in Deep Shit Over Bad Debt Collection Practices

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    Over half a million consumers just caught a break with help from the Consumer Financial Protection Bureau. It appears the CFPB has taken tough action against a major bank for basically screwing over consumers who were being forced to pay debt they rightfully should not have had to. The CFPB Says… Today the Consumer Financial Protection Bureau and Attorneys General ... Read More »

      How To Reduce Debt Buyer Collection Lawsuits

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      Last week the CFPB and the FTC held a workshop to address what happens to unpaid debts at different stages of the debt collection cycle. The workshop brought together state and federal regulators, economists, major banks, debt collection agencies, debt buyers, consumer advocate attorneys, technology companies, members of the judiciary, credit reporting agencies, and more. The workshop was aptly titled ... Read More »

        The Power of Debt Validation in Stopping the Robo-Signing Debt Collector

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        The following guest post was contributed by Michael Bovee of Consumer Recovery Network. If you would like to contribute a guest post, click here. In the wake of robo-signing scandals involving home foreclosures across the country come the reports of similar behavior by debt buyers who file court actions in order to collect on delinquent unsecured debts such as unpaid ... Read More »

          Debt Buyers, Getting Sued by a Creditor, and Debt Relief Scams to Avoid – Get Out of Debt Podcast

          This week Damon and I talk about debt buyers, companies that purchased charged off debt and attempt to collect them, the problem with the proof that debt buyers have to collect the debt, and the wave of lawsuits and judgments from debts buyers. We talk about what happens when you are sued by a creditor for a debt, what happens ... Read More »

            New York City Residents of Color, Poor and In Debt Likely to be Targeted for Collection Abuse.

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            Debt buying companies – a fast-growing segment of the debt collection industry – engage in systematic debt collection abuses that particularly target low-income New Yorkers and people of color, according to a report issued today by The Legal Aid Society, MFY Legal Services, Inc., NEDAP, and Urban Justice Center. The report finds that debt buyers in New York City routinely ... Read More »

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