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FTC Curbs Abuses By Major Debt Collector


Business  (tags: law, money, corruption, americans, abuse, business, consumers, corporate, dishonesty, debt, ethics, finance, government, GoodNews, society )

JL
- 378 days ago - pubcit.typepad.com
the "world's largest debt collection operation, Expert Global Solutions and its subsidiaries, has agreed to stop harassing consumers with allegedly illegal debt collection calls and to pay a $3.2 million civil penalty - the largest ever obtained by the



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JL A. (272)
Friday July 12, 2013, 4:04 pm
Wednesday, July 10, 2013
FTC curbs abuses by major debt collector

The FTC announced yesterday that the "world’s largest debt collection operation, Expert Global Solutions and its subsidiaries, has agreed to stop harassing consumers with allegedly illegal debt collection calls and to pay a $3.2 million civil penalty – the largest ever obtained by the Federal Trade Commission against a third-party debt collector."

The FTC's press announcement explains that the company was violating the Fair Debt Collection Practices Act by "calling consumers multiple times per day, calling even after being asked to stop, calling early in the morning or late at night, calling consumers’ workplaces despite knowing that the employers prohibited such calls, and leaving phone messages that disclosed the debtor’s name, and the existence of the debt, to third parties." According to the FTC, "the companies also continued collection efforts without verifying the debt, even after consumers said they did not owe it."

In a piece this morning in the Washington Post, columnist Michelle Singletary writes that hearing the FTC announcement "you want to pump your fist and cheer because justice is being served." She notes that the case "may significantly curb some unsavory practices by debt collectors."

Posted by Allison Zieve
 

Barbara K. (87)
Friday July 12, 2013, 4:43 pm
Great news to those who lost their jobs and are just trying to survive what they didn't cause.
 

JL A. (272)
Friday July 12, 2013, 5:24 pm
You cannot currently send a star to Barbara because you have done so within the last day.
 

Mary T. (280)
Friday July 12, 2013, 5:59 pm
good news, the other companies should be fined too and shuttered
 

JL A. (272)
Friday July 12, 2013, 6:08 pm
You cannot currently send a star to Mary because you have done so within the last day.
 

GGmaSheila D. (132)
Friday July 12, 2013, 11:38 pm
Wonder if they were the idiots who used to call at 2AM, way back when?? Might have been the ones who did the hang up calls?? Or possibly the one who called my boss - bk in the 70s??
 

Helen Porter (41)
Saturday July 13, 2013, 12:05 am
Here's what I said

Don't torture the wounded.

Be champions to your own people!

You are gifted. You have power.

You can make a difference.

When life passes, and that it does quickly,

you will be welcomed home.
 

Gene Jacobson (245)
Saturday July 13, 2013, 6:39 am
"In a piece this morning in the Washington Post, columnist Michelle Singletary writes that hearing the FTC announcement "you want to pump your fist and cheer because justice is being served." She notes that the case "may significantly curb some unsavory practices by debt collectors."

I won't hold my breath. If these are anything like the robocallers who have reached at least FOUR cease and desist agreements with the FTC and simply switch numbers like cars do lanes and do NOT honor those agreements at all, this will have no effect whatsoever. I have a land line but I don't use it for anything except in emergency, I pay very little for 300 minutes of time (never having used more than 25) just to have it, Vonage. I have it on one phone next to my pc. I have the ringer shut off because all I get are robocalls about the financial stimulus (which ended two years ago) or reducing my credit cards rate (I have one and don't carry a balance). I am on the Do Not Call Registry and I dutifully report these scam artists and once or twice a year I read in the paper that the FTC has reached an agreement with the company to stop and get a call the same night from a new number. Which I report. I use my cell for virtually everything and have on it, an iPhone, an app called TrueCaller which has almost 996 MILLION numbers listed and blocks spam calls every time, unlike the FTC, which is toothless and worthless in my opinion, or at least their Do Not Call Registry is. So I have my doubts about any agreement they reach with anyone lasting longer than it takes to fake a new number to call from. Personal opinion and experience.
 

JL A. (272)
Saturday July 13, 2013, 7:15 am
You cannot currently send a star to GGma Sheila, Zee or Gene because you have done so within the last day.
This agreement is not linked to the DNC registry law so hopefully will have greater enforcement power.
 

Kit B. (277)
Saturday July 13, 2013, 7:25 am

This will be 'good news' only if and when Global Solutions is actually forced to pay up. I would bet the next step will be bankruptcy and then coming back with a new name and the same old tricks.

I believe that the vast majority of people want to pay their debts, will pay their debts when and if they have employment that allows them first, food and shelter and then to pay debts.
We should be shouting down these companies in unison, "get off their backs'!. I can not imagine the daily crisis people are living through and still have some sleazy company hounding them.
 

JL A. (272)
Saturday July 13, 2013, 7:33 am
You cannot currently send a star to Kit because you have done so within the last day.
 

Lindsey Scott (0)
Wednesday July 17, 2013, 1:21 am
Debtors have not been imprisoned since the Civil War. As far as I know, being in debt is not a criminal offense anywhere. If a debtor fails to repay a debt, the only remedy creditors have is in the civil - not criminal - court.
I have never had problems with collectors because I try to pay all the money in advance. In addition, I use different financial tools to understand the principle of monthly payments for one or another loan. After reading the article I realized that we have to be more careful when applying for various money advances. I think other companies should be also fined in a short period of time to stop harassing the innocent people.
 
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