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Archive for 'Credit Card Debt'
Kansas City Woman Awarded $83 Million In Debt Collection Case
One of the largest debt buyers in the United States has been ordered to pay nearly $83 million in punitive damages to a Kansas City woman whom it had sued over a $1,000 credit card debt. Portfolio Recovery Associates LLC says it mistakenly...
Read MoreStudy Suggests Quantum Physics Can Eliminate Credit Card Fraud
Quantum physics may make future credit cards “impossible to hack,” say the authors of a recent study. As we all know, credit cards in their current state are prone to exploitation. This can cause major headaches for consumers hoping to...
Read MoreIowa Man’s Overdue Debt Tripled by Debt Collector
Vietnam War veteran Dana Franks of Iowa is under pressure from an Omaha, Nebraska-based debt collection firm to pay over $15,000 for a $5,000 credit card debt from 2006. The debt stems from a Capital One credit card Franks used...
Read MoreNew York State Establishes New Rules for Debt Collectors
New York State just took a major step in protecting consumer rights in credit card collection cases. The state recently updated its requirements for debt collectors when filing credit card collection cases against debtors, aiming to put a stop to...
Read MoreClass Action Suit Filed Against Victoria’s Secret Debt Collector For Violations of the Fair Debt Collection Practices Act
Lawsuit alleges Allied Interstate charged hidden fees after settlement offers have been accepted Third party debt collector Allied Interstate of Columbus, Ohio, allegedly failed to inform credit-card holders who defaulted on payments and then accepted settlement offers, that interest on the debt...
Read MoreProblems Riddle Moves to Collect Credit Card Debt
The same problems that plagued the foreclosure process — and prompted a multibillion-dollar settlement with big banks — are now emerging in the debt collection practices of credit card companies. As they work through a glut of bad loans, companies like American...
Read MoreCapital One to Pay the Price for Deceptive Credit Add-On Marketing Tactics
Capital One Financial Corp. exaggerator has been mandated to pay a sum of $210 million for conducting deceptive marketing of credit card add-ons like credit monitoring and payment protection, reports Business Insider. Neither a denial nor an admittance of guilt was released by...
Read MoreGlobal Payments Credit Card Data Compromised
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...
Read MoreChase 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...
Read MoreBank of America Sold Card Debts to Collectors Despite Faulty Records
In a series of 2009 and 2010 transactions, Bank of America sold credit card receivables to an outfit called CACH LLC, based in Denver. Co. Each month CACH bought debts with a face value of as much as $65 million for 1.8...
Read More85-Year-Old Oregon Woman Suing Big Bank Over Fake Suicide Call
Anne Sessions of Lane County, Oregon is suing Wells Fargo after one of its debt collectors reported to police that that the 85-year-old was threatening suicide, a claim she maintains was false, The Oregonian reports. After hitting financial trouble, Sessions says she...
Read MoreOhio Man Receives $16.4 Million Cable Bill, Woman Receives $286 Million Credit Card Bill
Computers are used to keep track of everything from personnel records, to bank accounts, to loans and revolving credit. When computer glitches occur, they can create havoc in your life. Just ask Daniel DeVirgilio, an Ohio man who recently received...
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