FriendInCt Posted January 9, 2007 Report Share Posted January 9, 2007 Found this posted on another site by a well informed member, thought I would share here.--------------------------------------------------------------------------------Charles Pona, president of the National Association of Retail Collection Attorneys, an association of debt collection law firms in Washington D.C. Gives an insight to just how corupt this whole "industry" is.Certain state laws PROHIBIT law firms from buying debt so law firms(wolpoff, etc.)are(have already) setting up "subsisaries" or "LLC"s that purchase debt and "contract" with the firm(Great Seneca Finanical, wolpoff's sock puppet for instance)...A law firms debt collection subsidiariy becomes the firms best client(only client?)! Charley sez, "In essence your collecting your own debt and it assures you of continuing business". This right from the piehole of the head skunk of the whole debt attorney cabal. How could this be challenged? Monopolistc business practices? Racketering/RICO issues? These clowns are greasing many of D.C.'s lawmakers, assuring that no laws could be passed to address the real issues facing consumers from predatory/usary CC banks.So instead we get useless stuff like the FDCPA and go nowhere guidelines for proper procedure concerning collection efforts done by debt attorneys(that are ignored).The banking industry is claiming consumers have more people than ever, late or gone deliquent (over 30 days late) with their payments last summer(06). Is the party comming to an end? Link to comment Share on other sites More sharing options...
Optimus_SubPrime Posted January 12, 2007 Report Share Posted January 12, 2007 What I find so aggravating is that collection laws haven't kept up with the practices of the industry, and so today consumers are actually more vulnerable to the practices of predatory debt collectors than they were in the late 1970s when these laws were first passed. I've been giving some serious thought to meeting with the Representatives and Senators in my state's House and Senate, and lobbying them to pass new consumer protection legislation. I'd like to see lawyers un-exempted from the licensing requirements of debt collectors, for instance, and I'd like to see the first $1500 in any consumer bank account protected from garnishment. Paying the rent and feeding the kids should always take priority over paying off some junk debt buyer. Any other suggestions? Link to comment Share on other sites More sharing options...
willingtocope Posted January 12, 2007 Report Share Posted January 12, 2007 Any other suggestions?Something that curtails how agressive an OC can be in trying to collect would help. Is it CA that holds OCs to the same degree of niceness that the FDCPA applies?Lacking OC inclusion, then some clarification on whether a "rent-a-body" collector working onsite at an OC is considered an OC or a CA. Link to comment Share on other sites More sharing options...
admin Posted January 12, 2007 Report Share Posted January 12, 2007 Found this posted on another site by a well informed member, thought I would share here.--------------------------------------------------------------------------------Charles Pona, president of the National Association of Retail Collection Attorneys, an association of debt collection law firms in Washington D.C. Gives an insight to just how corupt this whole "industry" is.Certain state laws PROHIBIT law firms from buying debt so law firms(wolpoff, etc.)are(have already) setting up "subsisaries" or "LLC"s that purchase debt and "contract" with the firm(Great Seneca Finanical, wolpoff's sock puppet for instance)...A law firms debt collection subsidiariy becomes the firms best client(only client?)! Charley sez, "In essence your collecting your own debt and it assures you of continuing business". This right from the piehole of the head skunk of the whole debt attorney cabal. How could this be challenged? Monopolistc business practices? Racketering/RICO issues? These clowns are greasing many of D.C.'s lawmakers, assuring that no laws could be passed to address the real issues facing consumers from predatory/usary CC banks.So instead we get useless stuff like the FDCPA and go nowhere guidelines for proper procedure concerning collection efforts done by debt attorneys(that are ignored).The banking industry is claiming consumers have more people than ever, late or gone deliquent (over 30 days late) with their payments last summer(06). Is the party comming to an end?Sounds suspiciously like the debt consolidation companies of old where they would have loan companies owned by the same people as the non-profit debt consolidation that would funnel people to these loan companies. Not surprising. Link to comment Share on other sites More sharing options...
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