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Abusive Debt Collection and You

The Consumer Financial Protection Bureau, or CFPB, was created to protect regular people from the kind of shady practices that led to the 2008 financial crisis.

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The CFPB has been busy, and is about to get busier.  The rules on abusive debt collection are getting strengthened.  Debt collectors often target someone who is recovering from surgery, poor and uneducated, or people of color.

About 77 million people – or 35 percent of adults in the United States with a credit file – have a report of debt in collections. That alone makes a compelling case for the bureau to crack down on abusive tactics.

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One of these abusive debt collectors is Goldman Schwartz.  The Federal Trade Commission shut them down for lying to people and scare tactics:  “we can take you to jail”, “we’ll send the sheriff’s department to your job and take care of this the hard way”.  These are only a few of the incorrect and abusive lines that debt collector used.

Remember, if a debt collector comes to your home – don’t let them in!  Ask for a copy of the credit agreement and shut the door.

If you need debt relief, phone Axsmith Law LLC at (202) 285-5415 to discuss your options.

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