U.S. Dept of Education Says Some of Their Debt Collectors Just Suck

Following a review of 22 private collection agencies, the U.S. Department of Education announced today that it will wind down contracts with five private collection agencies that were providing inaccurate information to borrowers. The five companies are: Coast Professional, Enterprise Recovery Systems, National Recoveries, Pioneer Credit Recovery, and West Asset Management. The Department also announced … Read more

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

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

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 … Read more

West Asset Management – Scam, Complaint, Review, or Praise?

Please share your experience with this debt collection company and provide your review and feedback, in the comments section below. The goal of this page is to allow people to share information that may be important to help others to make a more informed decision regarding their experience with this debt collection company. Here are … Read more