News Topic: Debt Collection

As many Credit Slips readers will know, so-called "body attachments" allow a creditor to haul a judgment debtor into state court if the debtor fails to respond to court summonses to answer questions about the debtor's financial affairs. It ... Read full article

The American Banker has been running an important series on credit card debt collection ( here , here , and here ) that ... Read full article

Jeff Horwitz at the American Banker has been doing some great reporting on abusive debt collection practices in the credit card industry. Joe Nocera's column took up the subject today. Robo-signing and other abuses have been a problem for a while ... Read full article

As Congress argues over what to argue about, they are avoiding dealing with THE major financial issue that needs to be resolved now ... Read full article

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Yesterday, the American Banker reported that Chase has stopped filing lawsuits to collect consumer debtors. Moreover, they did it quietly and quickly. ... Read full article

The LA Times did a three-part series this fall on what they call "Buy Here Pay Here" car dealerships. (Here is Part One , Part Two , and Part Three ). ... Read full article

In many states, a creditor or debt collector can easily obtain a default judgment with just a person’s name, last known address and Social Security number, and the judgment can follow the person around for years despite that the debt was never proven. ... Read full article

As Alan White reported recently , the Uniform Law Commission in the U.S. has named a committee to consider the need for and feasibility of proposing a uniform foreclosure act and to report back to the ULC by early 2012. ... Read full article

Although debtors' prisons are illegal across the country, you can apparently still end up in debt for an unpaid bill. ... Read full article

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No one enjoys repeated phone calls from mysterious numbers with voice messages containing the following: “we are calling to discuss an important business matter concerning [you!]” .  There are a few things to know when speaking to a debt collector that can ... Read full article

The WSJ reports on the latest development in the implementation of the OCC's mortgage servicing fraud consent orders.  It seems that the banks will have OCC approved "independent" foreclosure review consultants (chosen and paid by the ... Read full article

We have two married 60-something friends who are artists in Santa Fe and own a very simple home with a rental house in the front. The house is tiny by all but New York City standards, and since their income is always in flux (some months several grand, ... Read full article

Story here about debt collectors using pseudonyms because of the abuse they get. I don't doubt it. Debt collectors aren't exactly popular folks. I was recently searching for cartoons of various consumer finance topics and there were by far the ... Read full article

As Congress argues over what to argue about, they are avoiding dealing with THE major financial issue that needs to be resolved now ... Read full article

The other shoe drops: allegations of robo-signing in credit card collections (courtesy of the AP and CNBC). If it is happening in assembly-line mortgage foreclosures, there is no reason to think it is not happening in other assembly-line debt collections. ... Read full article