Other Blog Posts in Debt Collection Law category

Debt Collection Agency Phone Scam

Debt Collection Agency Phone ScamYet another debt collection agency scam operation has surfaced, this time in Spokane, Washington. In this scheme, a Spokane resident received a call from a (509) area code phone number claiming to be a police deputy named 'Wilkerson.' The so-called 'deputy' aggressively told the man he had an outstan......

Debt Collection Agencies Banned For Abusive Practices

Debt Collection Agencies Banned For Abusive PracticesIn a disturbing story from California, the remaining defendants in a case brought by the Federal Trade Commission have agreed to a settlement that permanently bans them from the debt collection business. This case, Rumson, Bolling & Associates, is part of the FTC's ongoing crackdown on illegal debt collection practices.The settle......

Houston Debt Collection Agency Shut Down

Houston Debt Collection Agency Shut DownIn January 16th of this year, a U.S. district court shut down a Houston-based debt collection operation, at the request of the Federal Trade Commission. The collection agency, Goldman Schwartz Inc., employed insults, lies, and false threats to collect on payday loans. Among their bald-faced lies: telling a Virginia woman that she'd be arrested, i......

Major U.S. Banks Under Investigation

Major U.S. Banks Under InvestigationFinally, the feds seem to be stepping up their enforcement of banking corporations. A recent report from Reuters, quoting anonymous sources familiar with the action, has announced that major U.S. banks – including Bank of America, Chase, Citibank, and Wells Fargo –are now under investigation, for knowingly providing debt collectors and debt buyers wi......

Former Chase Employee Exposes Unlawful Collection Practices

Former Chase Employee Exposes Unlawful Collection PracticesA class action lawsuit has been filed in federal court against JP Morgan Chase. The lead plaintiff, Johanna Sierra, was fired by Chase Co., and has since exposed the systemic fraud behind corporation's robo-signing scheme. Sierra sued JP Morgan Chase & Co., its collections subsidiary the NCO Group, and the Austin-based ...

Navient Changes Course, Denies Accountability to Borrowers

For years, Navient’s chief executive John Remondi has stressed the company’s commitment to assisting student loan borrowers. “At Navient, our priority is to help each of our 12 million customers successfully manage their loans in a way that works for their individual circumstances,” he said as recently as March 20th of this year.However, amid widespread accusations of unlawful conduct and a mas......

Consumer Financial Protection Bureau (CFPB)

Consumer Financial Protection Bureau (CFPB)The recently created Consumer Financial Protection Bureau (CFPB) has been compiling complaints on credit card companies since December 2011; most of people's complaints on credit cards deal with billing and account issues (of 94,000 total). 1,600 credit card company complaints involve debt collection issues.The CFPB gathers complaints through ......

Navient Leading all Student Loan Servicers in CFPB Complaints

New data from the government shows that Navient, the largest student loan servicer in America, was also the most complained-about company in all of financial services in the past three months.Navient, with 1,400 official complaints, beat out companies such as Bank of America, Wells Fargo, and credit reporting agency Experian, among others, by substantial margins.From November 2016 to January 20......

Collection Agencies Contacting You Repeatedly? There Are Limits!

Collection Agencies Contacting You Repeatedly? There Are Limits!It seems the Fair Debt Collection Practices Act actually makes some debt collection agency executives nervous; mostly because they're not sure how often then can legally harass people over the phone.The law states, A debt collector may not engage in any conduct the natura......

Mission Settlement Agency Indicted

Mission Settlement Agency IndictedIn the Consumer Financial Protection Bureau's first criminal referral, the Mission Settlement Agency, its manager Michael Levitis, and three employees have been indicted in Manhattan District Court. The debt-settlement company is accused of defrauding more than 1,200 people struggling with credit-card debt.The Manhattan District Attorney, Preet Bharara......

Consumer Finance Protection Board Expands Database

Consumer Finance Protection Board Expands DatabaseIn the first week of April, 2013, the Consumer Finance Protection Board expanded the Consumer Complaint Database to include money transfer complaints. The public records database, set up in 2011, had previously only accepted complaints related to credit cards, mortgages, student loans and bank accounts.Now people can submit complaints a......

Predatory Lenders Get Around The Military Lending Act

Predatory Lenders Get Around The Military Lending ActAlthough Congress banned payday loan companies from charging excessive (and usurious) interest rates to members of the military, bases around the U.S. are still surrounded by storefront lenders charging high annual percentage rates, sometimes exceeding 400 percent. The Military Lending Act, passed in 2006, was designed to protect ser......

Court Overturns Ruling In FDCPA Lawsuit

In early March 2013, the Third Circuit Court of Appeals overturned a ruling by a lower court, regarding its decision on a Fair Debt Collection Practices Act (FDCPA) lawsuit. The lower district court had ruled in favor of Healthcare Revenue Recovery Group, LLC (HRRG), a debt collection agency, shutting down Ray Caprio's claim; the Third Circuit Court'......

ERC

Are you being harassed by over a debt? Stop the harassment and get money, all without paying for our services. You are protected under the Fair Debt Collection Practices Act (FDCPA), whether or not you owe the debt.The FDCPA has protected consumers since 1977. This federal law protects you from unfair or abusive debt collection practices through clear rules about what debt collectors may and m......

Relief For People Sued By Lenders

A federal bankruptcy court in Tennessee has made a ruling that may offer relief to people being sued by their former lenders to pay the balance on their mortgages long after they lost their homes in foreclosure. Earlier this month, The Washington Post reported that hundreds of people in the Washington area, including 400 in Maryland, are being sued by their former mortgage lenders for the so-ca......

Bureau of Collection Recovery

Incorporated in 1985, now employs over 300 collectors. has two offices in Minnesota and one in New Delhi, India. collects debt for cell phone companies as well as credit card companies. boasts about the advanced technologies they use to collect debt, including the use of a predictive dialer to increase call volume. Constant phone calls from this company has been a frequent complaint from co......

Understanding Who Can Pull Your Credit Report Legally

Your credit report contains a great deal of personal information about you, including your social security number and a record of your accounts and debts. This is information you certainly don't want in the wrong hands, and it's not something you want to give out unless necessary.The good news is there are many federal laws governing who has legal access to your credit file. The federal Fair Cr......

How Debt Collectors Find Debtors

It can be rather difficult to hide from a debt collector, especially in this modern age of information and the digital means of accessing and storing it. Even with just a debtor’s name, collectors can do their research using public records and resources to dig deeper and find more personal information, and here are some of the ways this information is tracked down through various agencies:...

Medical Debt Collector Fined for Illegal Practices

The Consumer Financial Protection Bureau (CFPB) has recently announced an enforcement action against Syndicated Office Systems, LLC (SOS), a medical debt collection company, for allegedly mishandling disputes over consumer credit-reporting while preventing consumers from exercising their own debt-collection rights.SOS, ......

Illegal Practices of Debt Collectors

Dealing with debt is never easy, and being harassed by relentless debt-collectors only adds more stress and exacerbates the situation. The Federal Trade Commission (FTC) estimates that about 30 million Americans have accounts in collection, and everyone should be aware of a few particularly shady tactics used ......