Shining a Light on the Consumer Debt Industry

Today, Reilly Dolan, Acting Associate Director, Division of Financial Practices, FTC, testified before the Senate Banking Committee’s Subcommittee on Financial Institutions and Consumer Protection about debt collection.

The Fair Debt Collection Practices Act protects consumers from abusive or harassing treatment by debt collectors and establishes guidelines for the industry. The FTC shares federal jurisdiction for enforcing the act with the Consumer Financial Protection Bureau.

 

Remember, you have the right to be treated fairly by debt collectors. They can't use abusive, deceptive or unfair practices to collect from you.

 

Tagged with: debt, debt collection
Blog Topics: 
Money & Credit

Comments

I don't understand and I think it's terrible how I went through a lousy marriage (came in with perfect credit) spent all we had and buried us took out credit cards in MY name and I finally got rid of him the second I got $$ to pay it off or make the maximum payment I could I do and what happens? It made my credit worse since now all those debts which were almost off my record now restart to 7 more years! I can't consign for my kids to get loans for school consequently they may not be able to finish and even tho I'll have a deposit I won't be able to get a mortgage which would be cheaper than a rent! This is so UNFAIR! I even paid bills that were off my record! I thought I was doing the right thing! This needs to be changed this is so very very wrong! Is there ANY WAY I can get this fixed? This should be against the law!!! Karen Hurley

Is the FTC going to be doing anything about the use of auto dialers by debt collectors?

The manner in which they handled my mortgage was pretty brutally abusive. It may be a touch off the subject but an appraisal was ordered by the bank which I paid for before it was foreclosed on
was denied to me. I was informed that it was not going to do me any good cause it is already in the foreclosure process. I had a month to at least try and regroup but could not get a copy of the appraisal and I was not able to afford another one.

I have submitted complaints against JP Morgan Chase Bank , Millsap & Singer P.C. and Deutsche Bank National Trust Company with your group over the course of the last five years and have not had any response or sincere interest contrary to what you state on your Website.

Now the "Successor Trustee has conducted a Trustee's Sale of my property having "chase" and the FDIC apparently working in harmony.

Why has your group not followed up with me on this matter?

I would certainly appreciate a response.

Thank you for your attention to this matter.

Recent contact by scam please advise subscribers
Call your cell phone leave phone and voice
1-516 458 0420 text is from 5509249 Vtext.com

When you call they tell you recorded message your debit card has been limited
To restore press 1

Please alert they are scammers

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