Debt Settlement Company Agent Admits Being Instructed to Lie to Consumers

A debt settlement company agent who wishes to remain anonymous has confirmed some practices the company they worked for directed them to carry out. “The script that we had there gave the minimal amount of disclosures, however; we were coached to minimize and expound upon the program as having a greater benefit to the credit … Read more

John McCain Has Bad Credit Card Rates

So there I was on opensecrets.org and looking at the financial disclosure form for presidential candidate Senator John S. McCain, III, and right there on page 27, there it was. John and Cindy McCain have a joint credit card with Chase bank with a balance of between $10,000 to $15,000 and they are paying 25.99% … Read more

Attorney General Reaches Deal With Debt Collection Companies Over Deceptive Practices

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 … Read more

Reforms Recommended for Debt Collectors and Debt Collection Industry

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 … Read more