Tag Archives: ConsumerProtection

Have Past Due Debts? Be Thankful You Do Not Live in Russia

American consumers have rights under the Fair Debt Collection Practices Act (FDCPA) that protect against abusive debt collectors. In other parts of the world, past due borrowers lack basic consumer protections and are subjected to horrific abuse. Russian debt collection tactics are the ultimate example of what can happen when basic consumer protections are ignored. Due to Russian economic problems, banks have made borrowing more difficult. As a result, people are forced to use the Russian equivalent of payday loans. These loans are much more likely to go into default due to fees and super high interest rates. Defaulting on loans in Russia can lead to nightmarish consequences for borrowers. In Russia, collection agencies firebomb houses with Molotov cocktails, steal pets, send constant phone calls (to consumers, neighbors and employers), break bones, super glue doors shut and post the personal phone numbers of past due borrowers on prostitution websites. American…
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FCC Wants to End Government Debt Collection Harassment

People with past due student loans or other types of government debt have become familiarized with constant robocalls from debt collectors. These calls may come consistently throughout the day on your mobile phone. Fortunately, the FCC has decided government debt collection harassment has gone too far. The FCC has announced intentions to limit the number of times debt collectors working on behalf of the federal government can send robocalls to the cell phones of past due borrowers. In a congressional budget deal struck last year, government debt collectors were granted exemptions under the Telephone Consumer Protection Act, which limits robocalls except under certain conditions. If the proposals are passed, debt collectors working for the government will be limited to three robocalls per month. New regulations would require robocalls to inform past due borrowers of helpful repayment plans. Borrowers would also be allowed to opt out of robocalls entirely. Before you…
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Want to Avoid Online Identity Theft? Do Not Make These Common Mistakes

Have you ever received an urgent email asking for confidential financial or personal information? If so, you may be one of millions of Americans who has experienced phishing emails. Phishing emails are one of many tactics used by scammers to commit online identity theft. Once scammers have your Social Security number, bank account information and other personal details, they are free to go on incredibly damaging spending sprees. However, there are ways to protect yourself from online identity theft. Do not respond to phishing emails: Phishing emails often have dead giveaways, such as asking for banking, Social Security, address or login ID information. Dedicated scammers will create copycat websites, domain names or even fake companies to trick users into coughing up vital information. Companies, HR departments and other authorities will not ask for these details to be sent over email, as it could carry risks to consumers or employees. Do…
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