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Category Archives: Fair Debt Collection

Dealing With Bill Collectors

Published on January 10, 2010 by Robert A. Kraft

Dallas Morning News business columnist Pamela Yip published an excellent article about dealing with debt collectors. We recommend you read the entire article if you are having debt collection problems, but here are a few highlights. We will be glad to answer any questions you have in this area.
No one likes to be dogged by [...]

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Arbitration Awards in Jeopardy After AAA, NAF Withdrawals

Published on July 24, 2009 by Robert A. Kraft

In a blog at Lawyers USA, Sylvia Hsieh wrote, “In a stunning turn of events, the kingpin of consumer debt arbitration, the National Arbitration Forum, has been knocked out of the consumer debt business amidst allegations of consumer fraud, throwing into jeopardy hundreds of thousands of arbitration awards.” The ink “was barely dry on the [...]

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Arbitration Abuses ‘Deeply Disturbing,’ Kucinich Says

Published on July 23, 2009 by Robert A. Kraft

Bloomberg News reported, “A congressional staff investigation into the biggest U.S. consumer debt-collection arbitrator found ‘deeply disturbing’ abuses, U.S. Representative Dennis Kucinich said” yesterday at a hearing before a House subcommittee he chairs. “A report on the investigation, released yesterday, claims that the National Arbitration Forum, a Minnesota company that handled most consumer debt-collection arbitrations [...]

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Texas Attorney General Website Offers Valuable Consumer Information

Published on July 14, 2009 by Kathleen Munden

The Attorney General is the official in the State of Texas who is responsible for protecting consumers and businesses by enforcing the Deceptive Trade Practices Act and other consumer and business protection legislation. The website of the Office of the Attorney General contains a wealth of information for consumers, along with complaint forms, hotline numbers, [...]

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White House Sends Congress Draft Bill for Consumer Financial Protection Agency

Published on July 1, 2009 by Robert A. Kraft

The Financial Times reports the Obama Administration “has sent Congress draft legislation for a new consumer financial protection agency, setting out the fine details it wants to see in the body responsible for regulating products such as credit cards and mortgages.” The agency “would have power over any company that sells financial products to consumers, [...]

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Texas Attorney General Targets Debt Settlement Companies

Published on June 20, 2009 by Kathleen Munden

Financially distressed consumers have been flocking to debt settlement companies during the economic downturn, hoping to avoid bankruptcy and limit damage to their credit scores. Unfortunately, some debt settlement companies promise more than they deliver, and charge exorbitant fees to consumers.
Texas Attorney General Greg Abbott sued Richardson-based Credit Solutions of America, Inc., in March 2009, [...]

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FTC Offers Guidelines for Consumers Regarding Debt Collection

Published on June 18, 2009 by Kathleen Munden

The website for the Federal Trade Commission (www.ftc.gov) offers valuable information for consumers concerning their rights under the Fair Debt Collection Practices Act (FDCPA). “Debt Collection FAQs: A Guide For Consumers” answers the most frequently asked questions concerning the FDCPA. Among the questions answered are:
What types of debts are covered?
The Act covers personal, family, and [...]

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Credit Repair – Do It Yourself and Avoid Being Scammed

Published on June 14, 2009 by Kathleen Munden

Despite all the advertising by companies who promise to “erase your bad debt” or remove bankruptcies, judgments, liens, and bad loans from your credit file, the attorneys at the Federal Trade Commission say that they have never seen a legitimate credit repair operation making those claims. There is no quick fix for creditworthiness, although you [...]

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Collection of Time-Barred Debts

Published on June 11, 2009 by Robert A. Kraft

“Time-barred” debts are debts so old they are beyond the point at which a creditor or debt collector may sue you to collect. State law varies as to when a creditor or debt collector may no longer sue you. In most states, the period is from three to 10 years, and in Texas, the limit [...]

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New Regulations Concerning Payday Loans

Published on June 1, 2009 by Kathleen Munden

As of early April 2009, the Texas Legislature and the U.S. Congress are both considering legislation to regulate payday lenders. Last week, state senators announced pending bills that would establish oversight of the largely unregulated payday loan industry. The proposals include licensing requirements, a 36% limit on interest rates charged on payday loans, a limit [...]

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Credit Card Bill Signed Into Law by President Obama

Published on May 23, 2009 by Robert A. Kraft

On May 22, 2009, President Obama signed into law an act designed to protect consumers from surprise credit card charges. Although opposed by many financial companies, Obama strongly endorsed the bill, and it passed Congress with board bi-partisan support.
Obama made it clear that he did not back the changes with the intention of assisting those [...]

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