American Credit Services, a payday loan collection scam, has come to my attention and I’d like to alert readers to the outline of how these fraudsters work.
Basically, the “company” is calling people and telling them they owe money on a payday loan. Some of the common characteristics of these fake collection calls are:
Invariably the [...]
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New York Attorney General Andrew Cuomo is continuing his crusade against rogue debt collectors. His office announced on Wednesday that they have launched a statewide inquiry into debt collection agencies.
In addition, they have obtained a court order against Lamont Cooper and his two debt collection companies, Emanee Development, Inc. and Dial Tech LLC, under [...]
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Yesterday, in U.S. District Court in San Jose, a jury awarded a California couple $500,000 in a fair debt collection case. Credigy Services Corp. was found to be in violation of the Fair Debt Collection Practices Act and were trying to collect on money that was not owed.
The jurors in the cases cited Credigy [...]
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In an effort to increase debt collector regulation in the state, Oregon Governor Ted Kulongoski has signed a new law that allows the the Oregon Attorney General to sue debt collectors in the Beaver State. The Attorney General’s ability to regulate debt collectors will grow significantly under this bill and offer Oregon debtors a [...]
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The fallout from Dateline NBC’s debt collections episode has generated a real buzz in the collections industry.
Just this week we saw this editorial from InsideARM, which offers some pretty good rebuttals to all the collection agency boneheads that were posting on that site. All of their comments since the airing have been about how [...]
The world’s largest collection agency, NCO Group, reported results for the full year and fourth quarter 2008 Wednesday. The results?
Horsham, Pennsylvania’s NCO Group, Inc. reported a net loss for the full year 2008 of $337.1 million. In the fourth quarter of 2008 alone, the company reported a net loss of $286.6 million.
Mike Barrist, [...]
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Just so that I am not accused of being too one-sided, I thought I’d report on a collection attorney being scammed.
It seem that a Poy Sippi, Wisconsin Collection Attorney was the victim of an attempted scam.
These scams are actually pretty common against collection agencies and collection attorneys. Basically, the collectors [...]
Washington State Governor Gregoire signed a new law today that restricts check cashers’ and payday lenders’ ability to collect on consumer debts. Payday Loans have gotten a lot of attention in the Washington Legislature this month, but this bill is very interesting in its definition of “harassment.”
This bill has some relatively benign elements, such [...]
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West Virginia Attorney General Darrell McGraw is at it again… in a good way. McGraw has been on a mission to shut down payday lenders and their collection agencies that operate in his state. McGraw’s office began their crackdown on the internet payday lending industry in 2005.
Since then, McGraw’s office has successfully concluded [...]
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Alabama collection lawsuits are up almost 4 times according to court documents for the U.S. District Court for North Alabama. Many of these cases are related to collection agencies collecting from the wrong person, and certain companies seem to have a very high rate of suits.
Unifund tops the list with 26 suits filed in [...]
