U.S. GETS TOUGHER ON DEBT COLLECTING

U.S. Gets Tougher On Debt Collecting

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U.S. Gets Tougher On Debt Collecting

The article talks about Asset Acceptance, which had more than 34 million accounts as of Sept 2010 with a unique value of about $42 million. Because the financial obligations mostly were considered unattainable by credit-card services, gyms, telephony services and other organizations, Asset Acceptance paid $1.07 million, or 2.5% of the unique value, to purchase them (Silver-Greenberg, 2012).

The Federal Trade Commission increased its attack on the flourishing debt-collection industry, stating a $2.5 million agreement with a company for purportedly coercing people into ...