Debt collector

It’s a scary place to be — in debt and afraid.

A new Consumer Financial Protection Bureau report found that more than one in four consumers felt threatened when contacted by debt collectors. The first-ever national survey of consumer experiences with debt collectors found consumers often faced calls that came too often, at odd hours and contained warnings of jail time and other threats. Some were contacted for debts they didn’t owe. And many said when they asked the collector to stop contacting them, the request was ignored.

CFPB Director Rich Cordray said the report casts a “troubling light” on the industry, and that the bureau is working to stop abuses. But what are your rights when facing off with a debt collector?  Read More…


  1. Yea we need better laws to protect people from this kind of activity. Because debt collectors are motivated by their cut they won’t stop until you give in.

    Thankfully i have never been in this situation but most Canadians have.

  2. As the one person already mentioned the real problem is that this nation is purposely built to drive people in debt. It does so, so it ultimately benefits the few at top because they know those below have a hunger for more consumerism but little thought on balance.

  3. Here’s a novel idea: pay your debts and you won’t have collectors harrassing you. Shocker.

  4. People shouldn’t forget that even these collectors must abide by the laws. They only bend it because they know people don’t know what the limits are. Know your rights.

  5. I am currently going through something similar. It isn’t fun. But my advice to anyone who does find one day being in the deep end is to break it up into manageable tasks and tackle each in turn. In most cases this would be to pay down those with the highest interest rates. Oh, and also look to negotiate and more reasonable paying strategy. A lot of times they are willing to reduce the balance because they know you are at least willing to pay it back which is awesome!

  6. It’s funny to think that all of this started during the boom of easy credit — credit cards.

    We as a nation are addicted to debt. This is nothing more than an industry onto itself.

  7. Hey just move to another country if it gets bad enough.

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