Latest Posts
Home > Tag Archives: debt collectors

Tag Archives: debt collectors

Tougher Rules Coming for Debt Collectors

tough-rules-debt-collection

Year after year, federal regulators get more complaints about debt collection than any other industry. Now the griping has prompted an overhaul of collection rules for the first time in decades. A frequent refrain is that collectors sling harsh threats demanding payment on poorly documented debts. Yolanda Banda, an nurse assistant in California, is among the victims. She thought ... Read More »

    FTC Continues to Protect Consumers from Abusive, Fraudulent Debt Collectors

    Ready to Collapse

    Agency’s Activities over the Past Year Detailed in Annual Summary Provided to CFPB Over the past year, the Federal Trade Commission has continued its vigorous work on behalf of U.S. consumers suffering from unlawful debt collection practices, including bringing law enforcement actions against abusive and fraudulent operations, conducting education and public outreach initiatives, and implementing research and policy programs. Under ... Read More »

      Repossession Payment Plans With Debt Collectors

      tow truck repo

      “Dear Michael, Defaulted on a motorhome. It was repossessed and sold at auction. The balance owed after the sale was assigned to a collector. That collector and I made an agreement (contract?) that I would pay a certain amount each month until the debt was satisfied. I have made those payments faithfully for over 2 years-never late. Now the original ... Read More »

        CFPB Pulls Back Curtain on Debt Collection and New Rules

        Screen Shot 2013-11-08 at 3.45.25 PM

        The Consumer Financial Protection Bureau (CFPB) has put out a new document with an extensive amount of information that paints the debt collection industry in a new light. One fact I found exceedingly interesting is the percentages of debts the debt collection industry handles, “medical and other health-related debts (36%), credit card debts (20%), telecom debts (13%), and student loan ... Read More »

          More Bullshit Debt Collectors Busted By Gov

          ftc

          Man I get so sick of asshole debt collectors who give professional debt collectors a bad name. Here we go again with another crop of Southern California fakers scaring consumers to extract money. But you want to know the truth about why scammers operate like these jerks, because it scares money out of people. It works. I just wish there ... Read More »

            How to Best Deal With Aggressive Debt Collectors

            bigstock-Debt-3150433

            In today’s world, the term “aggressive” has positive connotations. When hiring an attorney, for example, no one would want a passive advocate for their claims. People want an aggressive lawyer. Similarly, in business, companies want aggressive salespeople; and sport teams want aggressive players. No wonder, I often have clients that try to excuse away egregious debt collector behavior on the ... Read More »

              Debt Collectors and Credit Bureaus to Report to the Consumer Financial Protection Bureau

              Ready to Collapse

              The CFPB has just announced they will be rolling out new proposed rules that will regulate consumer debt collection and consumer reporting markets. Proposed rules would mark the first time these important markets would be subject to federal supervision. “Our proposed rule would mean that those debt collectors and credit reporting agencies that qualify as larger participants are subject to ... Read More »

                Debt Collector Agrees to Pay $2.8 Million to Settle With FTC

                Ready to Collapse

                A leading debt collection company has agreed to pay a civil penalty of $2.8 million to settle Federal Trade Commission charges that its aggressive collection techniques violated federal law. As part of its efforts to protect consumers affected by the struggling economy, the FTC alleged that West Asset Management, Inc. violated the FTC Act and Fair Debt Collection Practices Act. ... Read More »

                  Jesus as a Debt Collector

                  Ready to Collapse

                  It does not matter what religion that you practice, seeking divine intervention is a common thread that binds us all. And that is good. Since debt does not discriminate among those of various religions we should not discriminate when we talk about a single unified higher power, in this case and for this discussion, God. There is no way that ... Read More »

                    Can I Be Sued and My Wages Garnished if I Make $70 a Week? – Karylan

                    Ready to Collapse

                    Karylan “Dear Steve, I am 24 yrs old living at home with my mom and might be getting sued by capital one. I work at a grocery store about 8 hrs a week sometimes not even that. I have had no luck finding a stable job, i might have to quit the one i have becuase i don’t have a ... 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

                        Ready to Collapse

                        Another episode of before they were stars. 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 »

                            How to Make the Debt Collector Do What You Want

                            Ready to Collapse

                            When you are in debt, sometimes you may feel that you are a “sitting duck” waiting for the debt collector to call. What you may not realize, however, is that there are laws which protect debtors from collection practices that you may find troublesome or harassing. The federal Fair Debt Collections Practices Act (hereafter referred to as “FDCPA”) and other ... Read More »

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

                              Ready to Collapse

                              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 »

                                Get My FREE Get Out of Debt Guy Newsletter

                                It is the smart thing to do.

                                I promise to keep your email safe and secure.

                                Close

                                I want to keep you posted each weekday with just one email about the latest get out of debt news, scam alerts and information to beat back debt.

                                You can unsubscribe at any time with just one click.

                                After you subscribe, check your email to confirm your subscription. If the confirmation email does not appear in your inbox in a few minutes, check your spam folder for it. Sometimes it likes to annoyingly hide there.


                                • It will keep you posted on the latest scams.
                                • You will be alerted to the latest articles.
                                • You will wind up smarter than everyone else dealing with debt.