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Mistake of Identity Results in Negative Information on Credit Report

Adam J Krohn / Posted: 2013-08-07 1:22 pm
Credit reports can impact aspects of a person’s life, either positively or negatively. The information can impact whether you can get a loan, how much you will need to pay in order to borrow money, and help protect you from identity theft. Errors on your credit reports that can have a negatively impact occur when a person has applied for credit under different names, a clerical errors was made in reading or entering names or address information from a hand written application, an inaccurate Social Securit

Further Crackdowns on Abusive Debt Collectors: FTC Issues Fines and Steps up FDCPA Enforcement to Protect You

Adam J Krohn / Posted: 2013-07-24 2:42 pm
Consumers who are deep in debt have enough to worry about without being continuously harassed by debt collection companies. According to federal data, there are around 30 million Americans that have debt that is under collection. Some of the abusive debt collectors make harassing phone calls, sometimes even late at night. They may also use threats, saying that they will contact a consumer’s employer, file a lawsuit, or have the consumers wages garnished.

US Consumer Bureau Plans to Crackdown on Abusive Debt Collectors

Adam J Krohn / Posted: 2013-07-16 2:59 pm
There are more than 4,500 collection firms in the United States. While many debt collectors follow the rules laid out under the Fair Debt Collection Practices Act (FDCPA), there are others who do not because they did not fall under the FDCPA’s jurisdiction. Debt collection complaints are common, with more complaints made against debt collectors to the Federal Trade Commission (FTC) than any other industry.

Collecting the Debts of the Deceased

Adam J Krohn / Posted: 2013-06-26 1:33 pm
The death of a loved one is a very difficult time for family members. So when debt collectors attempt to collect on a deceased person’s debt from family members, it can be very stressful and downright agitating. Family members typically do not have an obligation to pay the debts of the deceased from their own assets.

TCPA Damages Ruled to be Remedial in Illinois

Adam J Krohn / Posted: 2013-06-18 12:19 pm
The Telephone Consumer Protection Act (“TCPA”) prohibits several telemarketing practices (such as sending spam faxes). Under the TCPA there is a private right of action, along with the ability to seek $500 in damages for every violation (for every unsolicited fax) or the possibility of treble damages (when unsolicited faxes are sent willfully and knowingly). The Illinois Supreme Court has recently ruled that these statutory damages under the TCPA are not punitive but rather remedial in nature.

What Consumers Should Know About Your Credit Cards

Adam J Krohn / Posted: 2013-06-11 2:29 pm
Credit cards can be very useful if used correctly. However, if they are not, they can get you into a world of trouble. On average, an US household holds about $16,000 in credit card debt. Due to the economy, more and more debt collectors have been retained by these credit card companies to collect on the debts. This has lead to abuse and aggressive tactics which have, in turn, increased the amount of debt collection harassment complaints.

Do You Have Errors on Your Credit Report? How to Handle Them

Adam J Krohn / Posted: 2013-05-29 12:23 pm
A recent study that has been released by the Federal Trade Commission (“FTC”) has found that 26 percent of consumers have a material error on at least one of their three credit reports. Of the consumers in the study, 5 percent that had an error, once it was corrected they were placed in a different credit risk tier. This means that they could have been paying lower interest rates on automobile and home loans or credit cards.

Proper Venue for FDCPA Actions: Where the Required Location of Your Case Must Be

Adam J Krohn / Posted: 2013-05-21 2:30 pm
When filing a lawsuit it is important that it be filed in the proper court. This pertains to any type of action, where it be a personal injury case, criminal matter, or even probating a will. Actions under the Fair Debt Collection Practices Act (“FDCPA”) are not any different. Proper venue is clearly stated under 15 U.S.C. Section 1692i(a). This section states:

Consumer Attorneys Provide Simple but Effective Tips for Consumers on How to Deal with a Ruthless Debt Collector

Adam J Krohn / Posted: 2013-05-20 12:23 pm
Debt collectors are required to comply with the Fair Debt Collection Practices Act (“FDCPA”). However, intimidation, harassment, and threats are still used in attempts to collect on debts.

When Debt Collectors Call the Wrong Person

Adam J Krohn / Posted: 2013-05-09 12:30 pm
It is common for debt collectors to call the wrong person. This occurs often when you have the same name as a debtor or you have recently changed your phone number to a number that a debtor previously had. Sometimes the number’s previous owner did not give the debt collectors their new contact information. They may have even changed their phone number in order to avoid calls from debt collectors. However, you should not be harassed by debt collectors for a debt that is not yours.

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