Posts Tagged ‘Bill Collectors’
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Payday loan offices have been sprouting up across the country for decades. In these hard times, more people than ever are using payday loans to keep bill collectors at bay. Quick money, at interest rates of around 500% or more, for people with bad credit has been praised by some as a lifeline for the poor, but condemned by others as a trap to keep families in debt. Recently some states have passed laws limiting interest rates, but there is one marketplace that knows no borders — the Internet. ANP visited a conference where online payday-lending lobbyists urged congress to reject reform, and then traveled to a small town near the Virginia-North Carolina border to learn about the experiences of a man who googled “bad credit loans” and found himself in more trouble than he bargained for.
Brandon, Florida– A Bay area woman owing more than $20000 on a Bank of America loan is now suing a Georgia based debt collector alleging the company called claiming to be her attorney. The woman, who spoke on condition her face would not be shown, acknowledged mishandling her finances, but says what the debt collection company did to her crossed the line. “I never knew they could lie to you and fraudulently claim to be your lawyer,” said the Brandon mother of two who only wanted to go by the name “Victoria”. A lawsuit filed by KEL Attorneys in Orange County Circuit Court claims the debt collector working for Redline Recovery, broke Florida law when he misrepresented himself as the plaintiff’s lawyer. “Nobody should ever be lied to like that,” said Victoria. “Two wrongs don’t make a right.” Tuesday, Florida’s Attorney General held a news conference asking state lawmakers to clarify and strengthen state laws applying to the debt collection industry. He promised to work closely with the state’s Office of Financial Regulation to keep track of consumer complaints. An estimated 5000 complaints about debt collectors have already come into state offices this year.