Fair Debt Collection Still Not Fair
Debt neverending
(Image used under: Creative Commons 3.0 [SRC])
Some people still get on my case for being such a strong proponent of business regulation. They think that because of that, I don't put enough of the blame on the consumer (who is obviously at fault for the trouble the get themselves into). However, it's clear that the playing field is not level, the businesses use tricks and manipulations that no normal person has a chance against.
You don't even have to do anything wrong in some cases. Consumeraffairs.com looks at how the credit industry is still as full of abuses as before the Fair Debt Collection Practices Act was passed in 1977.
"Even more startling, debt buyers have learned to work the system to win judgments and coerce payments even when they have the wrong person or lack any evidence that the consumer owes the debt," NCLC and NACA wrote in a filing with the Federal Trade Commission.
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"Debts that may be a decade or more old are now sold in bundles to debt buyers for pennies on the dollar. Debt buyers then file cases by the thousands in overworked courts. The courts typically enter default judgments even if the collector has no proof that the consumer owed the debt, that the amount owed is legal and correct, or even that the debtor being sued is the right person,"Share This
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