Debt Dumper Club » Federal Trade Commission http://debtdumper.org Let Us Help You Dump Your Debt! Mon, 06 Sep 2010 04:48:23 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 Watch Out For Debt Relief Scams! http://debtdumper.org/2009/10/watch-out-for-debt-relief-scams/ http://debtdumper.org/2009/10/watch-out-for-debt-relief-scams/#comments Wed, 14 Oct 2009 02:36:51 +0000 deptdump admin http://debtdumper.org/?p=153 The FTC has prosecuted more than a dozen companies that claimed to offer debt relief but lied about the cost or nature of their services. One of its biggest cases involved AmeriDebt, Inc and DebtWorks, Inc., a company that claimed to be a non-profit credit counseling organization. On the eve of the trial, AmeriDebt’s founder agreed to settle the case for $35 million. There were 11 credit counseling agencies serviced by DebtWorks between January 31, 1998 and October 7, 2004. The agencies were AmeriDebt, Inc., Debticated Consumer Counseling, Inc., A Better Way Credit Counseling, Inc., Credicure, Inc., Mason Credit Counseling, Inc., Nexum Credit Counseling, Inc., Neway, Inc., The Credit Network, Inc., Visual Credit Counseling, Inc., Preactive, Inc., and Debtscape, Inc.

I know we all wish for someone to wave a magic wand and get us out of debt but, if you didn’t get into debt overnight, you are not going to get our overnight. Don’t fall for the debt relief scams!

]]> http://debtdumper.org/2009/10/watch-out-for-debt-relief-scams/feed/ 2 What Debt Collectors Can Not Say or Do! http://debtdumper.org/2009/10/what-debt-collectors-can-not-say-or-do/ http://debtdumper.org/2009/10/what-debt-collectors-can-not-say-or-do/#comments Thu, 08 Oct 2009 23:05:26 +0000 deptdump admin http://debtdumper.org/?p=130 According to the Federal Trade Commision (FTC) debt collectors are prohibited from saying the following:

  • You will be arrested if you don’t pay your debt.
  • They will seize, garnish, attach or sell your property or wages unless they are permitted by law to take the action and intend to do so.
  • That legal action will be taken against you if doing so would be illegal or if they do not intend to do so.

Debt Collectors can not do the following:

  • Try to collect any interest or fees on top of what you owe unless the contract that created the debt, or your state law allows the charge.
  • Deposit a post dated check early.
  • Take or threaten to take your property unless it can be done legally.
  • Contact you by postcard.
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