A brand new study from the Consumer Financial Protection Bureau (CFPB) revealed some surprising insights about consumer debt collection practices in America. The bureau found that 75% of people who request collectors to stop calling are ignored; 53% of respondents said at least one of the debts a creditor was attempting to collect was either for the wrong amount, the creditor had the wrong person, or the debt was not even owed; that one in seven consumers contacted about a debt end up being sued; and that 75% of people who are sued for a debt do not show up to court.
If a consumer is sued for a debt and they ignore the issue a default judgment will likely be filed against them. This makes the situation worse because now the creditor or collection company can garnish the consumer’s wages or file a lien on their property to collect the amount. This is particularly troublesome when 53% collection efforts involve a major error!
If a creditor or collection company has contacted you or you have been sued for a debt there may be things an attorney can do to help. If you would like to talk with me about debtor defense issues I can be reached by phone at (360) 205-2256 or by email at email@example.com.
Attorney at Navigate Law Group
Every legal issue is very unique. Accordingly, the information in this blog is intended as general education material and not as legal advice. If you think you may have a legal issue you should consult an attorney.