Unfair Debt Collection Quotes

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

Debt collectors like to play on your emotions because they think you'll give in and do something you can't really afford to do. Most of them don't care about you or your situation as long as they get some money.

It defies logic that protections against predatory debt collection practices don't apply to debt collectors hired by the federal government.

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.

As I travel across Illinois and talk with people, and as others reach out to my office desperate for help, I am becoming convinced that, despite their rhetoric, many lenders have no interest in actually helping their customers.

Before the CFPB, there was no single agency or entity within the federal government tasked with protecting Americans from predatory or negligent practices of banks, credit card companies, mortgage lenders, payday lenders, credit rating agencies and other financial service businesses.

States used to protect consumers from predatory lenders, but strong state usury laws were obliterated by a 1978 U.S. Supreme Court decision.

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.