I think he mostly reads his own posts.
US Marshals arresting people for not paying their federal student loans
- Thread starter gwb-trading
- Start date
Go use google and read the articles. There are plenty of them out there.
Why don't you direct us to the "proper" links?
Why should I do that when you don't plan to read them. I just did the Google search- 328,000 results.
What is it "exactly" that you searched?
You can start here....
8 Things We Learned From FTC Report On Debt-Buyers
http://consumerist.com/2013/01/30/8-things-we-learned-from-ftc-report-on-debt-buyers/
The entire 162 page FTC report - https://www.ftc.gov/sites/default/f...ces-debt-buying-industry/debtbuyingreport.pdf
8 Things We Learned From FTC Report On Debt-Buyers
http://consumerist.com/2013/01/30/8-things-we-learned-from-ftc-report-on-debt-buyers/
- 51.3% of the debts disputed by consumers
- Only 6% of debts comes to collectors with any supporting documentation.
The entire 162 page FTC report - https://www.ftc.gov/sites/default/f...ces-debt-buying-industry/debtbuyingreport.pdf
There is nothing lower on the face of the earth than a debt collection firm... They don't care if the consumer owes the money, they simply want to collect from anyone who they can terrorize into sending payments so they stop being harassed.
Here is an example of of a typical debt collection firm...
Debt collector targeted innocent
DeWine: Firm used nasty tactics to collect on fraudulent charges
http://www.dispatch.com/content/stories/local/2012/09/23/debt-collector-targeted-innocent.html
DO YOU REALLY WANT TO GIVE THESE SCAM ARTISTS THE ABILITY TO LOCK UP PEOPLE IN JAIL?
Here is an example of of a typical debt collection firm...
Debt collector targeted innocent
DeWine: Firm used nasty tactics to collect on fraudulent charges
http://www.dispatch.com/content/stories/local/2012/09/23/debt-collector-targeted-innocent.html
DO YOU REALLY WANT TO GIVE THESE SCAM ARTISTS THE ABILITY TO LOCK UP PEOPLE IN JAIL?
Your claim is that this is "50%"... TOTAL BS!
A credit card charge dispute is different from a college loan for "tens or hundreds of thousands".
How Debt Collectors Ruin Lives
They can dock your pay and ruin your credit—and the industry has only grown in recent years.
http://www.thenation.com/article/debt-trap/
A midnight call from a stranger, threatening to ruin your finances, throw you in jail, and make your family’s life hell, if you don’t forfeit a chunk of your bank account. Before you call the cops to report a mob shakedown, beware: the shady voice on the line could actually have the law on its side. The debt-collection industry has, since the 2007 financial crisis, exploded into a massive quasi-legal racket, systematically suing consumers into financial ruin. Now community activists are pushing back against debt collection schemes in the courts, with a major settlement that could clampdown on debt profiteering nationwide.
Under the settlement in Federal District Court, involving various companies colluding in a huge debt-collection scheme, about $59 million will be paid out to individual consumers in a class of roughly 350,000 New Yorkers. They match the profile of typical debt-racket victims: mainly the poor and people of color. Beyond the hefty award, the lawsuit has helped expose what advocates describe as a reign of financial terror, threatening financially distressed consumers with spurious lawsuits to basically coerce people into paying debts they did not owe them.
One target of the suit, a company called Leucadia and its various subsidiaries, was behind a debt-collection network known for so-called “sewer service” practices—essentially trapping victims by filing affidavits falsely claiming they had been served a notice of a lawsuit. The debt collector could then win a default judgment against them, sight unseen. The defendant might only become aware of the charges when they, for example, got rejected for a job due to a freshly ruined credit score, or noticed their paychecks being surreptitiously docked by collectors.
“They were lying to the courts, they were getting judgments, and then they were wreaking havoc on people’s lives by freezing their bank accounts, garnishing their paychecks, having these judgments deny people an opportunity at an apartment or at a job,” said Susan Shin of the New Economy Project, which worked with MFY Legal Services and Emery Celli Brinckerhoff & Abady to litigate the class action.
(Much more at above url - article notes that most of the victims did not owe any debt)
DO YOU REALLY WANT TO GIVE THESE SCAM ARTISTS THE ABILITY TO LOCK UP PEOPLE IN JAIL?
They can dock your pay and ruin your credit—and the industry has only grown in recent years.
http://www.thenation.com/article/debt-trap/
A midnight call from a stranger, threatening to ruin your finances, throw you in jail, and make your family’s life hell, if you don’t forfeit a chunk of your bank account. Before you call the cops to report a mob shakedown, beware: the shady voice on the line could actually have the law on its side. The debt-collection industry has, since the 2007 financial crisis, exploded into a massive quasi-legal racket, systematically suing consumers into financial ruin. Now community activists are pushing back against debt collection schemes in the courts, with a major settlement that could clampdown on debt profiteering nationwide.
Under the settlement in Federal District Court, involving various companies colluding in a huge debt-collection scheme, about $59 million will be paid out to individual consumers in a class of roughly 350,000 New Yorkers. They match the profile of typical debt-racket victims: mainly the poor and people of color. Beyond the hefty award, the lawsuit has helped expose what advocates describe as a reign of financial terror, threatening financially distressed consumers with spurious lawsuits to basically coerce people into paying debts they did not owe them.
One target of the suit, a company called Leucadia and its various subsidiaries, was behind a debt-collection network known for so-called “sewer service” practices—essentially trapping victims by filing affidavits falsely claiming they had been served a notice of a lawsuit. The debt collector could then win a default judgment against them, sight unseen. The defendant might only become aware of the charges when they, for example, got rejected for a job due to a freshly ruined credit score, or noticed their paychecks being surreptitiously docked by collectors.
“They were lying to the courts, they were getting judgments, and then they were wreaking havoc on people’s lives by freezing their bank accounts, garnishing their paychecks, having these judgments deny people an opportunity at an apartment or at a job,” said Susan Shin of the New Economy Project, which worked with MFY Legal Services and Emery Celli Brinckerhoff & Abady to litigate the class action.
(Much more at above url - article notes that most of the victims did not owe any debt)
DO YOU REALLY WANT TO GIVE THESE SCAM ARTISTS THE ABILITY TO LOCK UP PEOPLE IN JAIL?
You deny the figures from the FTC - 51.3%
Not my problem if you don't believe their report.
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