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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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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Dateline NBC and Chris Hansen aired a segment on Friday night that highlighted the growing debt problem in the United States and focused specifically on debt collection agencies and their shady collection tactics.
This episode is a must see for anyone interested in debt and debt collection. So, if you had better things to do [...]
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Debt Collectors will get the Dateline NBC treatment on Friday night, March 27th at 10pm Eastern and Pacific. Reporter Chris Hanson, most famous for his work exposing child predators on “To Catch a Predator,” will “expose dirty tactics used by some collection agencies.” According to NBC, hidden cameras will be involved, so this should [...]
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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 [...]
New Jersey Debt Collectors Pressler & Pressler, LLP are under attack for their collection practices. A New Jersey consumer, Scott Mills, has exposed some of their tactics and publicizes their practices on his blog. His list of complaints against them is lengthy.
Well, it turns out Pressler & Pressler fought back and filed a [...]
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Attorney General McGraw Settles with Brady and Caruso; Consumers Receive $290,000 in Cancelled Debt.
Press Release
March 13, 2009
West Virginia Attorney General Darrell McGraw today announced that his office has entered into a settlement agreement with Brady and Caruso which will provide $9287.87 in refunds and $282,953.84 in debt cancellation for approximately 174 West Virginia consumers. Brady and Caruso, LLC, doing business as Brady, Caruso, and Associates, LLC, is a [...]
In a very disturbing case, the 7th Circuit has ruled in favor of debt buyers by upholding a lower court decision that MCM Capital Group did not violate the Fair Debt Collections Practices Act (FDCPA). In Wahl vs. Midland Credit Management, the court decided that by referencing the total amount of debt purchased as [...]
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