Evil Debt Collector: Difference between revisions

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(Rescuing 1 sources and tagging 0 as dead.) #IABot (v2.0.8.2)
 
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* The problem of the [[Loan Shark]] industry. [https://web.archive.org/web/20180724022951/https://en.wikipedia.org/wiki/Loan_shark], [http://menmedia.co.uk/manchestereveningnews/news/s/1126627_loan_shark_victims_sex_hell\], [https://web.archive.org/web/20171109092735/http://news.bbc.co.uk/2/hi/uk_news/england/tyne/7923002.stm], [http://search.japantimes.co.jp/member/member.html?fl20030914a1.htm\], [http://www.japantimes.co.jp/text/fl20030914a1.html\], [http://www.morningstaronline.co.uk/news/layout/set/print/content/view/full/72545\]{{Dead link}}, [http://www.perspicacious.co.uk/content/loan-shark%E2%80%99s-threats-violence-forced-family-prostitution\]{{Dead link}}
* One of the most infamous real-life examples is Pressler & Pressler, known for strong-arm tactics including illegal account freezing and using [[Wikipedia]] as evidence in court. New Jersey's attorney general eventually cracked down on them hard in 2009. There was a special about them in [[American Broadcasting Company|ABC]] News in autumn 2008.
* Debt collector complaints for the first half of 2009 are up 20% from the same time last year. [https://web.archive.org/web/20110206085839/http://www.cbsnews.com/stories/2009/08/18/cbsnews_investigates/main5250463.shtml CBS News has a video]. As much as some people say it's the exception, statistics paint another picture. Note that there was also a massive spike in complaints in 2008 compared to 2007, so this seems to be more of a problem in recessions.
* Based on testimony from former employees, Wachovia (its auto loan department, especially) ignores the FDCPA as standard corporate policy. [http://www.ripoffreport.com/Car-Financing/WFS-Wachovia-Dealer/wfs-wachovia-dealer-services-f4j92.htm Link].
** Which they are ''allowed'' to do because "campaign contributions" (read:bribes) resulted in the FDCPA having an exemption for internal departments of banks.