Friday, July 16, 2010

Debt Tagging

Stacie Schaible of News Channel 8 discusses "debt tagging".  Debt tagging is where debt collection companies buy old debt for pennies on the dollar.  The debt collector will call people with the same name as the consumer who owes the debt, with the hope that the debt collector will reach the correct person.  If the debt collector does not reach the correct person, there is a chance that the person the debt collector reaches on the phone will pay the debt because that person fears that it may be a debt that they had forgotten about.  To see the video, go to http://www2.tbo.com/video/2010/jul/14/debt-tagging-46949/video-news/ or to read the article, go to http://www2.tbo.com/content/2010/jul/15/companies-use-new-bill-collecting-method-debt-tagg.

There are Florida and Federal laws to protect consumers against debt collector harassment.  For more information about these laws, go to www.againstbillcollectors.com/fairdebtlaws.html.