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Archive for 'Debt Collectors'
Know Your Rights When Dealing with a Debt Collector
Getting harassed by a debt collector can be frustrating, annoying and even scary. Fox 43 Morning News spoke with Pennsylvania consumer attorney Craig Thor Kimmel about your rights. (Video has been removed – Admin)
Read MoreCFPB Issues New Rules for Supervising Debt Collectors
The Consumer Financial Protection Bureau on Tuesday unveiled new rules for supervising large debt-collection firms, marking the first time that industry will be subject to federal oversight. Starting Jan. 2, the government watchdog will regulate 175 debt-collection firms that each...
Read MoreDebt Collector Profile: Arrow Financial
A division of Sallie Mae, Arrow Financial is a receivables management firm. As such, part of its business functions includes debt collection. Arrow collects on behalf of the utilities, student loans, telecommunications, credit card and auto deficiencies industries. Headquartered in...
Read MoreBank of America and Cach LLC Involved in Suspicious Debt Collections Happenings
A disturbing piece of collection harassment news has come to our attention via American Banker: Bank of America has apparently sold a debt collector the rights to sue consumers over credit card debt that it has internally confirmed to possibly be repaid or...
Read MoreArizona Governor Signs Bill that Helps Debt Collectors
Arizona Gov. Jan Brewer has approved legislation making it easier for debt collectors to go after defaulting consumers and small businesses. Brewer signed House Bill 2664 into law today. The measure allows collection agencies to use final billing statements as a basis...
Read MoreChase to Employee: ‘Go Along with the Plan to Sell the Misrepresented Asset’
The American Banker’s Jeff Horwitz recently put together a fantastic story exposing widespread internal irregularities at Chase regarding its credit card practices. The story is pulled from information gathered from a number of current and former Chase employees. It all...
Read MoreBank of America Sold Card Debts to Collectors Despite Faulty Records
In a series of 2009 and 2010 transactions, Bank of America sold credit card receivables to an outfit called CACH LLC, based in Denver. Co. Each month CACH bought debts with a face value of as much as $65 million for 1.8...
Read MoreDebt Collectors Using Facebook and Social Media to Contact You
When the Fair Debt Collection Practices Act was enacted in 1978, social media sites like Facebook and Twitter did not exist. No one could have anticipated how much of an impact social media would have on our lives but the debt collection...
Read MoreBank of America to Offer Rentals as Foreclosure Alternative
Bank of America says it has begun a pilot program offering some of its mortgage customers who are facing foreclosure a chance to stay in their homes by becoming renters instead of owners. The “Mortgage to Lease” program, which was...
Read MoreKnow Your Rights with Debt Collectors (Eyewitness News)
Consumer attorney Craig Thor Kimmel spoke with Eyewitness News via Skype about consumers’ rights under the Fair Debt Collection Practices Act: PA Home Page posted the video on their website here: Know Your Rights with Debt Collectors – video has been...
Read MoreCollege Loans the Next “Debt Bomb”
According to a report last month from the Federal Reserve Bank of New York, student debt is now at $870 billion, topping the total owed by Americans on credit cards ($693 billion) and even cars ($730 billion). Right now, 27 percent of...
Read MoreThe Delicate Art of After-Death Debt Collections
Debt collectors have been known to use various techniques to secure payment, some of which violated the Fair Debt Collection practices act (FDPCA). This can include pestering debtors, their friends, relatives and co-workers with calls at inappropriate times and places....
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