Feds Focused on Ending Illegal Debt Collection Practices

Debt is an issue that plagues a huge number of Americans; nearly 30 million of us have an account in collections. Another issue that plagues Americans are shady debt collectors who rely on questionable or illegal methods for recovering debt. Because of this wide spread problem, The Federal Trade Commission has joined forces with other […]

$79 Million in Fines for Bad Debt Collecting

The two largest debt buyers in the country recently faced massive fines for bad debt collecting practices. According to The Consumer Financial Protection Bureau, Encore Capital Group and Recovery Associates attempted to collect debt that was unsubstantiated or inaccurate. In addition, the companies also filed lawsuits against consumers without having the necessary documentation to prove […]

JPMorgan Chase Bank Fined $136M for Illegal Debt Collection Practices

Selling bad debt, robo-signing large quantities of documents without first verifying account information, providing inaccurate information to third-party debt collectors, and filing misleading lawsuits are some of the reasons JPMorgan Chase is facing hefty fines from the Consumer Financial Protection Bureau. JPMorgan Chase has been ordered to pay $136 million in fines to the CFPB, […]

Debt Collectors with Criminal Pasts

How does it feel to know that some of the people who legally have access to your private financial information are people who have possibly committed crimes such as identity theft, check forgery, and other crimes? An investigation by a Minnesota newspaper found that there have been at least 743 criminal offenders registered as debt […]

Debt Collectors Often Cross the Line

There is a reason why people who have been contacted by debt collection agencies often start screening their phone calls. “Pleasant,” “understanding,” and “professional” are not terms generally used to describe a debt collector. The Center for Responsible Lending has issued a new report revealing inappropriate conduct and downright abusive behavior rampant within the debt […]