Debt Collection Practices Quotes

Beefs against debt collectors are consistently among the top complaints received by both the FTC and state attorneys general.

The Fair Debt Collection Act was passed in 1977, and there were never any provisions for rules to be written under it, so it hasn't kept pace with the times.

Some bailiffs were tacking on extra charges left, right and centre - a fee for every letter they sent, extra fees for visiting your house, for clamping your car, seizing it, towing it and selling it. It all stacked up and people in debt had no choice but to pay. We have put an end to this.

No other facet of American business is more corrupt, more intoxicated with illegality, more weakly regulated, and has a greater impact on poor and working people than debt collectors; not credit card companies or subprime mortgages, not even payday lenders.

My mother was being hounded by a debt collector over a debt that she didn't owe, and she eventually just paid it because she wanted the calls to stop. I was very surprised. It sounded so strange. I started poking around on the internet and found this was extremely common. There was this world where these debts were sold off by the banks for pennies on the dollar and bought and sold.

People get into debt head over heels because banks make it so easy to do so. Then the banks come along and act like these people who can't or won't pay their bills are the dregs of society.

Debt collectors should be required to disclose the applicable statute of limitations in the body of their collection letters, in bold type. While it's not illegal to dun a consumer for an old debt, it is illegal to sue for one.

Navient's actions have led to student borrowers needlessly carrying billions of dollars in debt, and the company must be held accountable.