Why Debt Collectors Need New Rules

Managing Debt

Why Debt Collectors Need New Rules

Why Debt Collectors Need New Rules

What consumer protection law is about as old as the arcade game Pong and nearly as antiquated? The Fair Debt Collection Practices Act — the law that governs what’s become a multi-billion-dollar financial industry segment made up of companies that chase past-due debts from an estimated one in 10 Americans. When the FDCPA was put... Read More

Getting Collection Calls for Someone Else? Here’s What to Do

Managing Debt

Getting Collection Calls for Someone Else? Here’s What to Do

Getting Collection Calls for Someone Else? Here’s What to Do

My daughter is only 12, but she already knows a lot about dealing with debt collectors. Several times a week she gets debt collection calls for the person who previously had her cell phone number. Some of the callers are polite and tell her they will remove her number from their records. In other cases,... Read More

Aggressive Debt Collection Tactics Lead to $2.8 Million Settlement

Managing Debt

Aggressive Debt Collection Tactics Lead to $2.8 Million Settlement

Aggressive Debt Collection Tactics Lead to $2.8 Million Settlement

A major debt collection agency that employs 1500 debt collectors who try to collect on some 24 million past due accounts, 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. The FTC alleged that West Asset Management, Inc. violated the... Read More

What Can Debt Collectors Say On Answering Machines?

Managing Debt

What Can Debt Collectors Say On Answering Machines?

What Can Debt Collectors Say On Answering Machines?

Talk about an uncomfortable situation. A reader recently contacted us about a message she found on her answering machine.  The recorded message was regarding a collection for her father who does not live with her: Dear Gerri, I’m very concerned that a debt collector may have broken the law.  Long story short, I recently received... Read More

Beware of the Bad Debt Collectors

Managing Debt

Beware of the Bad Debt Collectors

The Los Angeles Better Business Bureau has been flooded with complaints about a debt collection agency they rate as an "F," according to a recent article in the Ventura County Star. The company, Commercial Investigations Inc., is located in Van Nuys, CA.

Certain credit cards and other financial products mentioned in this and other articles on Credit.com News & Advice may also be offered through Credit.com product pages, and Credit.com will be compensated if our users apply for and ultimately sign up for any of these cards or products. However, this relationship does not result in any preferential editorial treatment.