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Detroit Free Press Article
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Written by Rex Anderson   
Wednesday, 16 September 2009 12:28

Two of our firm’s clients were recently featured in a Detroit Free Press Article detailing the continued pressures faced by consumers whose debts have been referred to collections. See http://www.freep.com/article/20090828/NEWS06/908280382/1001/rss01

 

As the article points out, the Fair Debt Collections Practice Act is a federal consumer statute which protects you, me, and any other person who owes debts from abusive and harassing collection attempts by third party debt collectors.

 

Let me start off by saying people should pay their debts. But just because they don’t pay --- is no excuse for debt collectors and debt buyers to shamelessly abuse and harass a consumer and her family, friends and neighbors.

 

Congress saw fit to pass a federal consumer protection statute back in 1977 after conducting and listening to extensive investigation, studies, and testimony, congress found (and I quote):.  

 

“There is abundant evidence of the use of abusive, deceptive, and unfair debt collection practices by many debt collectors.  Abusive debt collection practices contribute to the number of personal bankruptcies, to marital instability, to the loss of jobs, and to invasions of individual privacy…                         

            Existing laws and procedures for redressing these injuries are inadequate to protect consumers.” 

Have you ever witnessed a pit bull attack? They go for the jugular vein. It’s just like some debt collectors – they don’t stop. They are relentless, savage.

 

The banking industry is to blame as well. It is a joke. It’s a grab ass industry with the debt collector acting as the hit man. The collector is playing the bad guy for the creditor who doesn’t want to be the bad guy. The collector is the reason that banks charge all the extraordinary credit card fees.  The typical credit card has 17 different fees, penalties, and interests rates for just about every contingency under the sun, written by a team of Harvard MBAs. The lawyers, the judges and even the judge’s law clerks can’t figure out how these credit card companies (banks) calculate their fees, penalties, and interest to arrive at the final amounts due and owing, The only way to understand this voodoo accounting is with the help of a forensic accountant in a full blown lawsuit which most consumers can’t afford.  The banks know they will get all these phantom fees with the debt collector pit bulls working for the financial industry. Tack on interest, over the limit fees, usurious interest rates and this is all phantom money but for the debt collector. Bottom line here is Big Business profit and for the banks its not a matter of tolerance – rather the banks encourage it.

 

Rex Anderson PC

Consumer Attorney

www.rexandersonpc.com

 
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