CFPB Takes Aim at Debt Collectors, Credit Reporting Agencies

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Collection agencies definitely need more supervision when it comes to the methods used in trying to collect old debt. Many use ruses in their attempt to talk with consumers who owe old debt. Those calling from 800 numbers (866, 877, etc.) know exactly who they are calling, but use elaborate deceptive practices, leaving messages for an unknown person, rather than the consumer. Many don't adhere to the rules of not calling a person's workplace when they've been told numerous times not to call. Many are very rude and arrogant in thinking it's their right to intimidate the person into making some type of payment plan. For those who have credit problems, these people make life miserable with their unethical practices.

Terri of TX 3:11PM March 12, 2012

lets see, rule one, if a bank writes off debt, as charge off. than they have no right to sell that debt to anyone. the governemnt gives them all that money to loss each yr in write off, billions.
we as comsumers cant go after our money lost when we bail out the banks.. right, what with that .....wallstreet gets pass, we the people get the shift....

foramerica of MA 3:50PM February 20, 2012

The same debt is sold to multiple unsavory collectors. This "industry" of low and high rent vultures needs major supervision. But mostly, we consumers need protection.

Albion of WA 2:04PM February 19, 2012

We had a collector for a bank call one time and when no one answered left the phone ring for 15 minutes without ceasing. Heaven forbid we would have needed the phone for an emergency. I was close to mad enough to have gotten the full amount in pennies, put them into a large barrel, dumped in about 50 pounds of honey, and shipped to the bank. Would have been worth it.

Richard Coleman of PA 6:15PM February 18, 2012

Don, time to get an answering machine and merely screen your calls - also leave a message that says something like 'You have reached the Smith's residence, at the tone leave your name, phone number and a brief message.." Get someone else to make the message - a younger person so the voice is different. Tell your friends and family and things like the MD's office you're doing it so they know to hang on for you to pick up.
The answering machine alone will disconnect most of the robo-calls and the different name and voice on the message you leave will throw off the collection agents.
I'll wager this AT&T 'debt' is already in the hands of a collection agency, and they will NOT have any idea whether the message is truthful or not, - they risk harassment charges if it is (really a new number for another person), and that alone can often times halt them.
Just because it's their dime, doesn't mean you are obligated to talk to them - or even acknowledge their existence.
Regards,

Deborah Terreson of NH 5:39PM February 18, 2012

I am a 79 year old male with terminal cancer. In 1999 I bought a cell phone with service provided by AT&T, in 2009 I notified AT&T I was cancelling the service and disposed of the cell phone, then the letters and phone calls started. I notified them two more times, in writing and by phone. Since then every morning at 8am the phone rings with an automated message telling me I owe them $39.95. On a half a dozen occasions a live human will be on the line demanding immediate payment or they will ruin my credit. I explain I always pay cash anyway and they say the phone calls will never stop until I pay them $39.95. What an insane way for AT&T to run a business or treat a loyal customer of 11 years. I have told probably a hundred others of AT&T's practices, most have said they will never do business with them. They spend millions trying to attract new customers, then treat them like dirt, what a brilliant business model. I can only assume AT&T is run by a group of total morons,

don mcquiston of MT 3:38PM February 18, 2012