An interesting article I came across states 5 scary facts about debt collectors.
1. Debt collectors are everywhere. There are thousands of debt collection agencies in the US.
2. Some debt collectors are very disorganized. This includes selling the debt to other debt collectors after you were already issued a 1099.
3. They may not investigate disputes. If you dispute the debt with a credit reporting agency, the debt collectors sometimes do not investigate the dispute, they just delete the disputed account.
4. Some debt collectors violate federal law. Some debt collectors violate the Federal Debt Collection Practi
ces Act.
5. Some of them harass people.
Read the full article here:
