Are you being hounded by calls from debt collectors? You’re not alone. According to figures available by the Urban Institute, more than one-third of Americans have debts reported to collection agencies.
Consumer Fraud Forum Blog
The Consumer Financial Protection Bureau wants to toughen regulation of the debt collection industry. It is proposing new rules that will keep agencies from pushing people to pay debts they don’t owe, limits the number of calls collection companies can make to debtors and requires them to inform borrowers...
John Oliver made headlines recently when he purchased and cancelled $15 million of medical debt owed by 9,000 people. The gesture was part of a segment to highlight the issue of debt in the United States and how it has spawned a one-billion-dollar debt collection industry.
It is important for you to know your consumer rights, especially if you need to dispute a charge on a bill. There are plenty of dubious bill collectors out there who don’t care if you have a billing error on your account; they just want your money.
Have you ever been on the receiving end of a call by a debt collection company? The experience is so shame inducing that many consumers pay up just to avoid any more dreaded calls.
Like many retirees Clifford Cain Jr. was accustomed to living on a tight budget, he carefully budgeted his Social Security and pension benefits to cover his rent and medication for multiple sclerosis.
According to the Urban Institute about 77 million people owe some sort of debt, so it is only natural that there are a lot of debt collectors making a lot of phone calls. Sometimes, those calls target the wrong people. What can you do if a debt collector is bothering you over a mistake?