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Education Department Terminates Contracts With Five Debt Collectors

The U.S. Department of Education will terminate its relationship with five debt collectors.

This announcement follows numerous complaints about allegedly illegal debt collection practices.

The debt collectors being terminated are Pioneer Credit Recovery, owned by Navient Corporation, formerly known as Sallie Mae, Coast Professional, Enterprise Recovery Systems, National Recoveries and West Asset Management.

Consider The Law

In the News 03/03/2015

In Tuesday’s post on Collecting Corporate Debts, we discussed the least sophisticated consumer standard. This week in the news, Attorney John Rossman expands on that concept on… 123 more words

Debt Collection

U.S. Department Of Education Cuts Ties With Five Debt Collection Agencies To Protect Borrowers

Consumer advocates applauded the Department of Education’s announcement last week to end contracts with five private collection agencies that provided inaccurate information to borrowers. 421 more words

Feds & NY Attorney General Team Up To Sue Abusive Debt Collectors

Just like one of those action movies where a federal agent gets paired up with a small-town sheriff who knows all the bad guys in the area, the Federal Trade Commission has brought its… 583 more words

Collecting Corporate Debts, Part I

Approximately 77 million Americans are in some form of debt. Most debt collection agencies and law firms focus a lot of their time, energy and resources on collecting these retail consumer debts. 273 more words

Debt Collection

8 Ways to Recognize a Debt Collection Scam

As we’ve discussed in previous posts, government agencies have been created and charged with overseeing and policing debt collection agencies and law firms due to illegal and unethical collection practices. 629 more words

Debt Collection