$500,000 Awarded To California Couple In FDCPA Case

Last month, Manuel and Luz Fausto won one of the biggest collection awards documented in the last couple of years under the Fair Debt Collection Practices Act (FDCPA) against Credigy Services Corporation. A California jury awarded the Faustos $500,000 in damages derived from harassment by Credigy collectors. Of the sum, granted $100,000 was for actual damages the Faustos experienced, while $400,000 was in punitive damages, granted for malicious and reckless disregard of the couples rights. According to one of the Faustos lawyers, David Humphreys of Humphreys Wallace Humphreys, P.C., and the case derived from a debt on a Wells Fargo charge card opened in 1992.

Debt As Opposed To Bankruptcy

With consumer debt at an all time high, owing a debt can seem very overwhelming. A great deal of people have looked into the world wide web and have seen advertisements alleging that they can offer debt relief as a quick fix. As alluring as these ads may seem, it is important to be on the lookout for the validity of the claim.

Collection Companies: What Are They? Pt. 1

What are debt collection agencies?

When Should You Call In A Credit Collection Agency?

You should call in a credit collection agency sooner rather than later. The longer you wait to begin the collection process on past due accounts, the less of a chance you’ll have at recovering your money.

Some Laws You Should Know Before You Do Your Taxes

In the present day’s recession the changes seem massive. Just last year a number of tax laws were written to bail us out of dire situations. These are a few new tax laws that you should know about.

Respecting Privacy

It is imperitive that debt collectors respect your privacy. According to the Fair Debt Collection Practice Act, collection agencies cannot exchange information about debtors. They can’t send out a list of people who owe money to its creditor subscribers. They cannot advertise a debt for sale, or compile a list of debtors to its creditor subscribers.

Collection Agencies 101

If the person in debt agrees to pay, the bill collector will record this commitment and will check up later to make sure that the payment was made. If a debtor does not pay, the collector will draw up a statement about their delinquency for the credit department of whatever company they are working for. In extreme cases, debt collectors may request repossession, hand over the account to a lawyer or disconnect service.

Collection Industry Tries A Different Approach In A Rough Economy

The bill collections industry’s tactics may be taking a turn for the….better? Keeping in mind the amount of recent lawsuits against debt collection agencies, ACA International, the biggest trade group of professional creditors and collectors, says more and more collection agencies are working towards training collectors to take a more of an empathetic position.

Beware Of Cash4Gold

We’ve all seen them – the ostentatious “Cash4Gold” commercials, sometimes featuring people on the street dancing, or at other times, M.C. Hammer promising quick cash in exchange for your old, unused jewelry. Although human nature makes us want to unconditionally trust the dancing person or even with his track record, M.C. Hammer, it turns out that Cash4Gold may not in fact be too legit to quit.

Ask Doctor Debt Intends To Enlighten The Public On Financial Literacy And Debt Collections

It is about time that someone stepped up in a venture to instruct the public on legal debt collection practices and general financial literacy. With a countless amount of bogus debt collectors throughout the United States preying on unsuspicious consumers, Ask Doctor Debt serves to fix this ever growing situation by giving consumers an outlet in which to ask questions in regards to their rights and any and all debt related questions.

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