09 Nov Credit Card Collectors Get Tougher
Complaints to the Better Business Bureau and the Fair Trade Commission about unfair collection practices by credit card collectors rose dramatically in the past year, according to an Associated Press article. The problem seems to be caused by the recession since there are more and more people unable to make their high interest credit card payments. So, the collectors are seeking new ways to put pressure on those consumers.
Some of those pressures are illegal. The Fair Debt Collection Practices Act regulates how collectors can pursue a debt. But with the growing economic problems, it is anticipated that collection agencies will become more demanding and less responsive to consumer concerns.
Some bill collectors claim that debtors are often rude to them, and spout obscenities and threats. Most of the debtors I know, when confronted with multiple phone calls each day from the same collection agency, simply react by hanging up or not answering the phone in the first place.
If you’re being hounded by a collection agency or the credit card company to pay your bill, it’s time to seek professional help: find a good consumer attorney knowledgeable about credit and collections laws and stop this kind of abuse.
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