Restraints to Be Put on Debt Collectors
December 12, 2012
Hogan, Susan; Towne, Shaun
Beginning next year, the Consumer Financial Protection Bureau's jurisdiction will include large collection firms. About 30 million Americans -- many of whom do not even owe a debt -- are being harassed by collectors. The bureau is cracking down on harassing calls and other situations in which consumers are being pursued for a debt that is not theirs. Attorneys for consumers say that some collectors have left people threatening, intimidating, and even abusive messages. In a Federal Trade Commission lawsuit, one grieving mother said that a debt collector threatened to have the funeral home dug up her son's body if she did not pay the debt. The Debt Collection Trade Association has voiced support for weeding out companies that use extreme tactics.
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