1. Debt collectors are NOT under oath when they are talking to you. There are restrictions on what they can say, but exagerration, saying what might happen if you do not pay, are allowed. 2. They are not trying to help you! They are not trying to work things out, come up with a plan [...]
collection agency
The average consumer debt collector employee places 200 collection calls per day or 50,000 calls per year! Â How do they make so many calls? Â Most use a technology known as autodialing, even though the use of an autodialer by a collector often violates the Telephone Consumer Protection Act (TCPA). The penalty for violating the TCPA [...]
As a bankruptcy lawyer, one of the first things I advise my clients to do when they decide they are filing bankruptcy and hire me is to stop paying on their credit cards. More on this later in the post. Recently, though, before I could offer that advice, a client asked me: “What happens when [...]
You can fight back against bill collectors. One man, from Parsons, Tennessee got so mad at a collection agency trying to collect an old debt that he decided to use some of their own tactics against the bill collectors themselves. Newschannel 5 in Nashville reports that Randy Falkner fought back. First Faulkner sent the collection agency a certified letter [...]
In part 1 I discussed negotiating with your credit card company. Once that fails and the account gets significantly behind, they will transfer it to their collection department or an outside collection agency. Curiously enough, collection departments or agencies, although often more aggressive than the credit card company, will usually negotiate more readily. They’re paid [...]
On Wednesday, August 6, 2008, the State Banking Commissioner issued a cease and desist order effectively shutting down Cornerstone Credit Corp., a collection agency based in Waterbury, Connecticut. The agency had been operating without a license since September 2005 and had failed to turnover money it had collected from consumers to the creditors who had [...]
