OWS’ Rolling Jubilee Seeks to Buy and Forgive Debt

By: Saturday November 10, 2012 9:24 am

The Occupy Wall Street movement has sustained many offshoots, including the high-level wonkery of Occupy the SEC and the direct-action foreclosure defense of Occupy Our Homes. Now another offshoot will attempt an innovative solution to the private debt crisis, which has been welling up in America for decades. This campaign began back in September with [...]

DAs Lend Stationery to Debt Collectors, Intimidating Debtors into Payment

By: Monday September 17, 2012 7:44 am

My initial post of the day concerned organizing around debt resistance as the connective tissue for a new project out of the Occupy Wall Street movement. When you read about this example of corruption around debt, you understand why organizing against it is such a vital project. The letters are sent by the thousands to [...]

Occupy Wall Street Begins New Organizing Campaign as Strike Debt Launches

By: Monday September 17, 2012 6:19 am

Today is the first anniversary of Occupy Wall Street, and FDL’s team of reporters and citizen journalists will have you covered with all the on-the-ground activities. I wanted to add some coverage of this new offshoot of the Occupy movement, in the vein of Occupy Our Homes, the successful effort to fight foreclosures through direct [...]

Joe Nocera Highlights Bank’s Debt Collection Practices

By: Tuesday April 3, 2012 1:33 pm

I’ve been following Jeff Horwitz’ excellent series on credit card debt collection at American Banker, which I’ve chronicled in a couple posts. The short version is that the attention to detail in credit card debt information is as thorough and well-kept as it is in foreclosure and mortgage information. Now Joe Nocera has picked up [...]

BofA Also Selling Credit Card Debt to Collectors With No Quality Control

By: Friday March 30, 2012 8:15 am

We learned a few weeks ago about the JPMorgan Chase debt collection scandal, which featured robo-signing, shredded documents, and loads of criminal activity. Now there’s evidence that this was more of an industry standard, as Bank of America suffers from similar problems in their debt collection business. Here’s the story from American Banker, which has [...]

JPMorgan Chase Robo-Signed, Trashed Documents in Collection of Credit Card Debts

By: Tuesday March 13, 2012 12:43 pm

Hey, remember when JPMorgan Chase abruptly suspended all their debt collection court cases a couple months ago? Now we’re learning more about the problems in their debt collection arena. And surprise, we have more robo-signing! The abuses are so bad that even the bank-friendly Office of the Comptroller of the Currency has been roused to [...]

The Actual Problem With Income and Debt Has Nothing to Do With Wall Street

By: Wednesday February 29, 2012 8:55 am

I’m supposed to feel sorry for the banker who might have to pull his kids out of private school: Schiff, 46, is facing another kind of jam this year: Paid a lower bonus, he said the $350,000 he earns, enough to put him in the country’s top 1 percent by income, doesn’t cover his family’s [...]

Student Loan Debt Collectors Going After Families of Seriously Ill Children

By: Monday January 23, 2012 11:27 am

Just as an example of why you don’t settle with banks who have shown themselves to be utterly lacking in any moral follow-through or willingness to act in ways beneficial to their consumers, check out this story from Harold Pollack at The Incidental Economist. Pollack tells a tale about the financial challenges of parents who [...]

The American Nightmare – Debt Collector Thieves Create Fake Courtrooms to Steal from Consumers

By: Monday November 8, 2010 12:45 pm

This happened late last week, and the biggest thing I want to know about it is how Pennsylvania snagged the coveted attorneygeneral.gov URL, but I should give it some attention here. Basically, all of the scumminess associated with foreclosure processes is also present in debt collection, by a factor of ten. This is almost unbelievable: [...]

Screwing Customers is the Banks’ M.O.

By: Monday November 1, 2010 11:15 am

As Yves says, if you thought the mortgage servicers used robo-signers, wait until you see what the debt collectors do! While we have seen abuses aplenty in mortgage-land over the last six weeks, they pale compared to normal practices in the debt collection arena. Some factoids from a New York Times story: Debt collection robo [...]

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