Does Moran Drexen’s Preferred Creditor Program Create a Problem for Consumers?

Last week new information in the lawsuit between Morgan Drexen and the CFPB brought to light a commission compensated department called the Preferred Creditor Program. You can read that article, here. At least one commenter mentioned Morgan Drexen is not the only company to have such a program. If not, then an industry wide problem … Read more

FTC Versus NCO Debt Collector. FTC Wins $3.2 Million Penalty.

The world’s largest debt collection operation, Expert Global Solutions and its subsidiaries, has agreed to stop harassing consumers with allegedly illegal debt collection calls and to pay a $3.2 million civil penalty – the largest ever obtained by the Federal Trade Commission against a third-party debt collector. In its complaint, [which you can read here] … Read more

NCO Financial Systems Settles Multi-State Issues Regarding Consumer Debt Collection

On the heels of the recent settlement with the FTC and DOJ by Asset Acceptance, NCO Financial Systems has announced a settlement with a number of states over “irregularities” or problems. The states included in the settlement are: Alaska, Arkansas, Idaho, Illinois, Iowa, Kentucky, Louisiana, Michigan, Nebraska, Nevada, New Mexico, North Carolina, North Dakota, Ohio, … Read more

Debt Collector Won’t Send Me Debt Settlement Agreement in Writing – Kathy

Kathy “Dear Steve, Currently in the process of paying a settlement for a debt owed due to my car being repossessed. This settlement is through NCO Financial Systems. The agreement was initially on the phone for a set amount to be paid over 6 months. This was secured with an immediate withdrawl from my bank … Read more

New York Attorney General Launches Inquiry Into Debt Collection Companies

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 … Read more