News & Resources

Debt collection activity surges nationwide

Sep 23, 2011 Mike Garretson

Consumer debt collection has taken off since the recession began, mainly in response to the heightened use of credit and the myriad government deficits that have ransacked fiscal stability nationwide. However, a significant proportion of these debt collectors have been equipping some shady practices to cull consumer and organizational dues. National debt collector and industry insider Bill Bartmann, CEO of CFS II, recently launched a campaign - bluntly titled "Stop These Criminals" - that aims to raise awareness on the matter. "With about 50 million Americans facing late bills, the collection industry is being thrown into the national spotlight and not for good reasons," Bartmann said in a statement. "Complaints against debt collectors are skyrocketing because the industry is overrun with scum bag collectors who harass consumers and practice illegal tactics to collect on late bills." Earlier this week, a Maryland debt collection agency had its licence revoked for improper collection practices and class action lawsuits are being brought against others. The trends point more so to a rampant uptick in debt collection activities, but regulators and court officials may respond with legal action and bureau reporting as trends progress.