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THURSDAY, NOVEMBER 26, 2009
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NEWS ABOUT: debt collection

debt collection stories: 7 news summaries

Arbitration Firms Quit Consumer Debt Biz

Credit card, cell phone companies scramble to collect by themselves

Jul 22, 09 8:33 AM CDT
(Newser) - Credit card and cell phone companies are scrambling as two major arbitration firms back out of the business of settling consumer disputes, the Wall Street Journal reports. The National Arbitration Forum—accused in a Minnesota lawsuit of misleading consumers into thinking it was impartial—will stop taking cases this week,... More »

MORE ABOUT:
consumer protection • credit card • contract law • contract • cell phone industry • credit card loans • consumer debt • arbitration • debt collection • National Arbitration Forum • American Arbitration Association

 Debt Settlers 
 Promise Relief, 
 Provide Little 



Cash-strapped consumers claim companies charge fees without reducing debt

Apr 20, 09 8:33 AM CDT
(Newser) - State attorneys general are being overwhelmed with complaints about “debt settlement” companies that promise consumers relief from mounting bills but rarely deliver, the New York Times reports. The number of such companies, which often collect fees of 15% of the total debt to negotiate with creditors, has tripled in... More »

MORE ABOUT:
credit card • consumer debt • household debt • consumer credit • debt collection • financial crisis • creditor

Debt Collectors Fleece Relatives of the Dead

Getting bereaved to pay up one of the healthiest parts of industry

Mar 4, 09 11:26 AM CST
(Newser) - Bankruptcy and defaults are all the rage these days, but one group is being targeted to pay up: the dead. Entire debt collection agencies have cropped up that specialize in calling bereaved relatives and convincing them to pay the deceased’s debts, even though they have no legal obligation to... More »

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death • credit card • banking • consumer debt • debt collection • banking industry

BofA Tricks People Into Paying the Dead's Bills 

Bank accused of shady practices in collecting cash from bereaved relatives

Feb 7, 09 7:34 AM CST
(Newser) - Bank of America has been misleading customers into believing they have to pay off the credit card bills of dead relatives, TPM reports. One customer was outraged when a bank rep tried to first trick, and then guilt-trip him into paying his dead mother's bills. A former rep for the... More »

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Bank of America • death • bank • credit card • banking • consumer debt • debt collection • banking industry

Indian Debt Collectors See US' Dark Side

Outsourced call centers get ring-side seat for economic crash

Oct 14, 08 9:49 AM CDT
(Newser) - Most Indian call center employees develop a fairly utopian view of the US, which seems a land of brand-name splendor and plenty. Not so at Aegis BPO Services, a call center specializing in debt collection, where employees are getting an up-close and personal look at the credit crunch. “It’... More »

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India • outsourcing • credit card • credit crisis • call center • debt collection

Spain's Debt Solution: Shame Delinquents Into Paying

Debt collectors aim to embarrass by arriving
in lavish costume

Oct 11, 08 4:38 PM CDT
(Newser) - As personal debt grows in Spain, debt-collectors are taking the trick-or-treat approach, donning costumes—tuxes, bagpipers’ gear, Pink Panther suits—and knocking on doors. If all goes as planned, neighbors take note and the debtor is embarrassed into paying, the Wall Street Journal reports. “The idea is to make... More »

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Spain • debt • debt collection • costume

Indian Phone Banks Tackle US Debt Collection

Cheaper and better workers draw American agencies overseas

Apr 24, 08 2:20 PM CDT
(Newser) - As individuals' debt grows in a tough economy, US debt-collection agencies are expanding into India, where collectors work more cheaply—and are often better, the New York Times reports. Indian collectors are “very polite, very respectful, and they don’t raise their voice,” says one CEO. And a... More »

MORE ABOUT:
India • outsourcing • consumer debt • debt collection

7 Stories


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