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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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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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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While the IRS has stopped working with private collectors, many local District Attorney’s offices have not. A company called American Corrective Counseling Services provides for-profit services to local District Attorney’s offices, including Los Angeles County. The company sends out letters on District Attorney’s letterhead threatening prosecution and jail time for writing bad checks, [...]
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