Wednesday, December 08, 2004
FTC filed to halt CAMCO operations for collecting debts never owed, threats, etc.
The FTC, after YEARS of so many complaints and lawsuits, is *finally* taking action to shut CAMCO down. At least I hope it’s not temporary and that the responsible people will face criminal charges.
“… Company Uses Threats, Lies, and Intimidation to Collect “Debts” Consumers Do Not Owe ...”
The FTC just figured that out?
“.... In the eight months since that settlement, the FTC has received more than 2,000 consumer complaints about CAMCO’s illegal tactics – three times more than the agency received in the two years before the settlement. ...”
Why did the FTC let them get away with a $300k settlement in March?
“… In papers filed with the court, the agency charged that as much as 80 percent of the money CAMCO collects comes from consumers who never owed the original debt in the first place. Many consumers pay the money to get CAMCO to stop threatening and harassing them, their families, their friends, and their co-workers. ...”
Nothing is easier than collecting debts not owed.
People are so afraid to ruin their credit rating, I myself often recommend now to just pay if it’s not on the credit. Most people don’t have the time and skills to follow the extremely complex requirements for the “proper" disputes as required by law AND to then file suit—to get up to $1,000 in statutory damages and risk losing because of some procedural defect in their dispute or pleading. Not to mention the obnoxious lying corporate lawyers ...
Just about NOBODY can find a competent attorney to file FDCPA suits. There’s not enough money in it for the lawyers.
Reality sucks.
The FTC press release:
Continue reading ...
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