Do You Really Owe That Debt?
Debt collectors have a bad reputation of using questionable tactics to collect debt, but now there is an increase of debt collectors trying to collect debt you may not even owe. Of course it goes without saying that these “rogue” debt collectors need to be stopped. Millions of Americans find themselves in debt, from credit cards, student loans, medical bills and more. Not surprisingly, organized debt collection operations have grown with the rising debt. Some of these companies are dealing with so many individual claims that they get very sloppy with their work, including going after individuals for debt that they already paid or never owed. So how do we make sure that the debt they are collecting is really yours? According to a letter sent by Sherrod Brown, an Ohio Democrat, to Richard Cordray the director of the Consumer Financial Protection Bureau rogue debt collectors need to be reigned in with official action. The letter explains how “15 percent of [all