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Archive for May, 2012

Bank of America and Cach LLC Involved in Suspicious Debt Collections Happenings

By K&S on May 18th, 2012 | 7 Comments

Posted in: Debt Collection Methods, Debt Collectors, Debt Harassment

A disturbing piece of collection harassment news has come to our attention via American Banker: Bank of America has apparently sold a debt collector the rights to sue consumers over credit card debt that it has internally confirmed to possibly be repaid or inaccurate. The company sold off credit card receivables to a Denver, Colorado-based…

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Arizona Governor Signs Bill that Helps Debt Collectors

Arizona Gov. Jan Brewer has approved legislation making it easier for debt collectors to go after defaulting consumers and small businesses. Brewer signed House Bill 2664 into law today. The measure allows collection agencies to use final billing statements as a basis to show amounts owed and interest rates as they seek court judgments and…

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Global Payments Credit Card Data Compromised

By K&S on May 14th, 2012 | No Comments

Posted in: Credit Card Debt

Although this blog is usually dedicated to educating consumers about credit and collection scams and educating them on how to stop collection calls, today there is a different, but no less important, type of credit news that needs to be brought to the attention of readers. Credit and debit card data from the major card…

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Bank of America Rolls out Suspicious New Pilot Program

By K&S on May 10th, 2012 | No Comments

Posted in: Debt Scams

Bank of America (BoA) has introduced a test program in certain markets called “Mortgage to Lease,” says the Wall Street Journal. It allows BoA mortgage customers facing foreclosure to keep living in their homes by converting them into renters rather than owners. One thousand borrowers in Arizona, Nevada and New York will be able to…

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Chase to Employee: ‘Go Along with the Plan to Sell the Misrepresented Asset’

The American Banker’s Jeff Horwitz recently put together a fantastic story exposing widespread internal irregularities at Chase regarding its credit card practices. The story is pulled from information gathered from a number of current and former Chase employees. It all began back in 2009 when Chase’s credit card team sold off credit card judgments valued…

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