Is Every Consumer Threatened and Harassed For Old Debts

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CAMCO is a “debt buyer” - a company that buys old debts well past the statute of limitations and attempts to collect them. Most of the debts are unenforceable in court and so old they are beyond the reporting periods allowed under the Fair Credit Reporting Act. Some of the debts CAMCO allegedly attempted to collect were already discharged in bankruptcy or had been paid. The FTC charged that in their attempt to collect these debts, the companies engaged in abusive and deceptive collection practices, including:

• Harassing consumers at their workplaces;

• Discussing consumers' debts with third parties;

• Continuing to communicate with consumers after consumers had notified them that they did not owe the money and did not wish to be contacted again;

• Using obscene or profane language;

• Calling consumers continuously with the intention of annoying and abusing them;

• Falsely representing the amount and legal status of the debts;

• Misrepresenting themselves as attorneys;

• Threatening imprisonment, seizure, garnishment, attachment or sale of property or wages with full knowledge that such action could not legally be taken; and

• Ignoring consumer's disputes of the charges and continuing to harass them after consumers requested verification of the debts.

The FTC charged that Capital Acquisitions and Management Corp. (CAMCO), its subsidiary, RM Financial Services, Inc., and four principals, engaged in systematic and widespread violations of the Fair Debt Collection Practices Act (FDCPA). The FTC charges that the principals of the companies were directly involved in the alleged law violations.

To read the full consent decree, visit Consumers Federation FTC Case List web page

For additional information goto our Consumer Credit and Debt Center.