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Problems with Debt Collectors Calling?

No New Payday Loan Shops in California (for now)
August 15, 2014
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Problems with Debt Collectors Calling?

Problems with Debt Collectors Calling?

Asset Capital and Management Group, a debt collector, has been ordered to surrender more than $4 million dollars back to consumers for making false threats associated with calls for debt collection.  This Southern California debt collector was faced with $90.5 million dollars in judgments, but the judgments will be suspended under the deal.  Will this stop more debt collectors from calling? According to the deal, the four principals of the company will surrender their assets, and the assets of the company will be liquidated to refund consumers so perhaps this will make others think twice as  then the company must cease all debt collection activity indefinitely.

 

The Federal Trade Commission (FTC) alleged that the debt collector engaged in a number of deceptive and abusive practices violating both the Fair Debt Collection Practices Act and the FTC Act including debt collectors calling at hours beyond when they are allowed by law. As a result, the company illegally collected payments from consumers for credit card debt purchased by the company.

If you are being harassed by a debt collect hire a qualified California debt settlement attorney.  A qualified debt settlement law firm employs a team of  attorneys that understand your rights and can protect you from false claims and will work to settle debts for a fraction of the original balance.

Source: http://www.insidearm.com/daily/debt-buying-topics/debt-buying/debt-collectors-to-pay-more-than-4-million-in-ftc-settlement/