June 22, 2013 |
More than a year after regulators cracked down on Wall Street's flawed home foreclosure procedures, authorities are stepping up pressure on debt collectors over a flood of lawsuits rife with unsupported allegations against delinquent credit card holders. State and federal regulators are increasingly alarmed that banks and debt collectors appear to be using faulty records in litigation against borrowers having trouble paying what they owe on their credit cards. In some cases, authorities said, the paperwork and the procedures have been so defective that borrowers weren't even given notice of lawsuits against them until judges rendered default judgments for their failure to appear in court to defend themselves.
January 17, 2013 |
WASHINGTON -- A Van Nuys debt collection operation and the people who ran it agreed to pay $1.1 million to settle federal allegations they improperly bullied consumers to get them to repay overdue bills and deceived clients about fees. The settlement ends a case that began in 2011 against Forensic Case Management Services Inc. and permanently bars the owner, David M. Hynes II, and other officers in the company from the debt collection business, the Federal Trade Commission said Thursday.
August 11, 1991 |
Anyone who has checked into a hospital knows that once you check out, you'll be confronted with a staggeringly expensive, dizzyingly confusing bill. But what is not common knowledge is that many of these bills contain errors that can cost consumers and their insurers thousands of dollars. How big and how common are the errors? The answer depends on whom you ask.
December 23, 1998 |
The bats and balls are gone, the uniforms consigned to the nostalgia bin. The Mission Viejo Vigilantes play only in court now, with the city suing the team and the team suing the city. The minor-league baseball team vacated its offices soon after its second season in Mission Viejo ended in September. The team disconnected its phone and left no forwarding address, leaving an angry band of creditors wondering when--and if--they might get paid.
July 13, 1990 |
Virtually unnoticed among the many superpower negotiations, the United States and Soviet Union are trying to settle U.S. claims of more than $1 billion on debts that predate the Bolshevik Revolution, including old czarist bonds bought by Americans. Recent U.S.-Soviet commercial talks have focused on Soviet efforts to obtain most-favored-nation trading status, which would enable the Soviets to get the U.S. government credits and loans they need to resuscitate their economy.
May 1, 1997 |
Chicago-based Montgomery Ward Holding Corp. may have violated practices related to the collection of debt from credit card customers, based on an internal audit by the retailer's majority shareholder. General Electric Co.'s GE Capital Services unit said an internal audit of debt collection practices identified some "issues which we're moving swiftly to rectify," according to spokesman John Oliver. Oliver said GE was confident that the matter won't be material to GE or Montgomery Ward.
February 8, 2008 |
The long arm of the law reaches only so far, according to a federal appeals court. In a win for consumers, a three-judge panel of the 9th U.S. Circuit Court of Appeals ruled this week that a San Clemente debt collection company could be sued for alleged overly aggressive tactics, even when the company is working on behalf of prosecutors. The appeals court ruled in a lawsuit against American Corrective Counseling Services Inc.
November 15, 1986 |
The Reagan Administration announced stepped-up efforts Friday to collect $68 billion in delinquent debts and government loans, with one official declaring that "Uncle Sam ain't gonna be Uncle Patsy anymore." At a Justice Department news conference, officials said they will use four laws recently signed by President Reagan to toughen federal debt collection and better combat waste, fraud and abuse.