The Federal Trade Commission (FTC) recently put a stop to a debt collection scheme being run by two Florida-based companies that wrongfully collected a total of $5 million, according to The New York Daily News. The two organizations worked with a call center in India to collect debts from consumers who either did not owe anything or were indebted to someone else. After shutting down the two Florida companies, the FTC levied a $25.3 million fine for their illegal tactics and money taken from consumers. The companies reportedly created U.S. financial accounts for the India call center and primarily targeted consumers who had received payday loans.
In addition to wrongfully collecting debts, collection agents made threats to coerce payments and implemented a phony interest rate reduction scheme from January 2010 to August 2011. Further, reports indicate that the companies had taken sensitive personal financial information about consumers from online payday loan companies to begin illegal collection activity. In the event that you or a loved one is targeted by wrongful debt collection practices, a free consultation with Oxnard fair debt collection attorney Howard D. Silver can give you greater insight into your problem. Call the Law Offices of Howard D. Silver at (818) 597-2610 or fill out the online contact form at http://www.caconsumeradvocate.com/contact-us.html for help.