Annuities Are Partially Protected Against Creditor Garnishment in New Jersey

New Jersey law (N.J.S.A. § 17B:24-7) states that annuity principal and annuity payments are not only exempt from “execution, garnishment, attachment, sequestration or other legal process” but also that no creditors are “allowed to interfere with or terminate the [annuity] contract.”  However... Read More... Annuities Are Partially Protected Against Creditor Garnishment in New Jersey

Lingering Economic Malaise Means Expansion for PRA

Portfolio Recovery Associates (PRA) thrives in the still struggling economy.  Its spokesman announced recently that the debt collector will expand its Birmingham, Alabama call center by mid-2013.  With arms opens, the city agreed to provide the debt collector with $200,000 annually over 4 years to help it rent more space. The Birmingham operations already have about 170 employees utilizing an existing 17,000 square foot call center. PRA plans to hire... Read More... Lingering Economic Malaise Means Expansion for PRA

Why Occupy's Plan To Cancel Consumer Debts Is Brilliant - Business Insider

Why Occupy's Plan To Cancel Consumer Debts Is Brilliant - Business Insider:

Co.Exist

Why Occupy's Plan To Cancel Consumer Debts Is Brilliant Business Insider Called the Rolling Jubilee, it is a plan to use money from donations to buy distressed consumer debt from lenders at a marked down price, just as debt collection agencies normally would. But instead of hounding debtors for payments, it will simply ...

Fake Courtroom Debt Collector Ordered to Pay $522,780

Fake Courtroom Debt Collector Ordered to Pay $522,780: The former head of a collection agency that used a fake courtroom to trick some debtors into paying has been ordered to pay more than $500,000 in fines and legal fees. The judgment comes after the defendant in the case won the right to appeal the case, but opted not to offer a defense.

Asset Acceptance Calls a Consumer a Fat Motherfucker While Trying to Collect Debt NJ Plaintiff Says

The facts as alleged by the consumer are very egregious.  It’s not all that often a debt collector in 2010 (when the voicemail was recorded) will be so brazen to actually record a voicemail calling a consumer a “fat motherfucker.”  But, when debt collection companies like Asset Acceptance permit cultures of greed and abuse to permeate their collection floors, it’s no wonder these facts are alleged to have happened.  Moreover, Asset Acceptance’s craven attempt to... Read More... Asset Acceptance Calls a Consumer a Fat Motherfucker While Trying to Collect Debt NJ Plaintiff Says

Consumer Federation of America Publishes Report Concerning Fraud and Debt Collection Abuses

Alarmed, the report detailed a relatively new form of debt collection scam.  Fake payday lending sites promising easy money are created for the sole purpose of capturing sensitive financial data.  Consumers, already in the dumps if they are considering payday loans, provide their information hoping to receive lending approval.  Rather than get money in their accounts from a payday loan, the reverse happens.  The fake payday lender steals money from the bank accounts the consumer unwittingly provided.  To really bring this fraud home... Read More... Consumer Federation of America Publishes Report Concerning Fraud and Debt Collection Abuses

Government Accuses National Credit Adjusters of Collecting Usurious and Invalid Payday Loans

National Credit Adjusters, LLC is a national “debt clearinghouse” that purchases defaulted payday loans.  Grabbing payday loans from all over the nation, National Credit Adjusters attempts to collect them in the respective states.  The payday loans associated with Arkansan consumers contain usurious... Read More... Government Accuses National Credit Adjusters of Collecting Usurious and Invalid Payday Loans