Tag Archives: debt collectors
The truth on defaulting with debts
2008 was the year of the economic crash, but it was also the year, as found by McKinsey’s Global Institute in their study on debts of major economies in the world ‘Debt and Deleveraging’, the year by which the UK was the most indebted economy among the developed nations. Continue reading
Strong ARM – How the Debt Collection industry has grown through aggressive practices in the economic downturn
How would it feel if money was taken from your wages for a debt that is not yours? This unfortunate scenario happened two times to a New Mexico woman who had no connection to the Target Bank account or to the collectors employed by Target. Because the debt buying industry has grown in leaps and bounds since the 1980′s, cases like this are becoming more and more common. Now the combination of technology and large debt buyer firms has created a profitable industry that also holds the record for highest industry complaints logged with the Federal Trade Commission. The government does not have the resources to respond to all the complaints it receives but luckily there are consumer protection statutes in the Fair Debt Collection Practices Act that can help consumers fight back against collection bullies. Continue reading
Sample Answer to Summons
The judicial system in this country is set up in a way in which each American has a set of rights as a citizen. Don’t feel tied down and imprisoned by debt collectors or collection agencies and summons papers before you’ve even looked at the papers or given fighting a second thought. Know your rights. Consider what you must do to defend yourself and win the case. Continue reading