FTC Bans Three Scammers From Posing as Debt Collectors

The Federal Trade Commission has reached a settlement with three defendants who allegedly posed as lawyers and falsely threatened to sue people or have them arrested for failing to pay on debts they did not owe are banned from the debt collection business under a settlement with the Federal Trade Commission. The settlement resolves an FTC complaint filed in July 2017, alleging that the defendants told consumers... Read More

Total Household Debt Increases

Total Household Debt Increases, Driven by Mortgage, Auto and Credit Card Debt Credit Card Delinquency Flows Step Up Notably Over Past Year, While Delinquency Flows for Other Non-Housing Debt Worsen Modestly August 15, 2017 NEW YORK – The Federal Reserve Bank of New York today issued its Quarterly Report on Household Debt and Credit,which reported that total household debt increased by $114 billion (0.9%) to $12.84... Read More

Agency of Credit Control Named BBB TORCH Award Finalist

Agency of Credit Control, Inc. is a finalist for the TORCH Award Encouraging and supporting ethical business practices is a key purpose of the Better Business Bureau.  The Torch Award for Marketplace Ethics is the most prestigious award the BBB can present to a business or nonprofit.  Being a recipient indicates that the business or nonprofit not only believes in the high standards promoted by... Read More

Data Shows Second Year of Declines in Consumer Debt Collection Complaints

An emerging trend shows that debt collectors are working hard to assist consumers and help the U.S. economy. For the second year in a row, complaints against debt collectors have dramatically decreased and debt collectors have earned a higher complaint resolution rate than the all-industry rate, according to the Council of Better Business Bureaus. The BBB’s new data indicates that debt collection complaints have dropped... Read More

New York Fed Provides In-Depth Look at U.S. Economy in a Snapshot

The latest report shows flat consumer spending despite solid income growth and improvement in the labor market. The Federal Reserve Bank of New York released its latest U.S. Economy in a Snapshot Thursday and presented an analysis of the purpose of the data series, launched in June 2015, for households and economists. “Our goal is to provide information that helps households and businesses follow the data along... Read More

From Collector: Are You In The Clear?

Understanding how the FDCPA applies to first party creditors. For decades, the Fair Debt Collection Practices Act has been largely viewed as the domain of third-party debt collectors. Today, however, smart companies know otherwise. Both the Federal Trade Commission and the Consumer Financial Protection Bureau have made it clear—through guidance, enforcement actions and lawsuits—that in certain situations, first-party creditors fall under the FDCPA’s jurisdiction directly... Read More