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Debt Collector to Pay 2.8 Million Dollar Fine

The Federal Trade Commission has reached a settlement with a debt collection agency called West Asset Management.  The Federal Trade Commission is the federal agency that oversees debt collection practices. The FTC had accused West Asset Management of engaging in illegal debt collection practices, including using abusive language, telephoning the consumers numerous times in one day, communicating with people other than the consumer about the debt, and ignoring consumers' requests not to called.  The agreement calls for West Asset Management to pay a fine of 2.8 million dollars. The fine is the largest ever imposed on a debt collector by the Federal Trade Commission.

The FTC had received thousands of complaints about West Asset Management from consumers around the country.  The allegations against West Asset also included falsely threatening to sue consumers, and threatening consumers with arrest.

It is illegal for debt collectors to make false threats of any nature to consumers including falsely threatening to sue a consumer, freeze their bank account, or falsely threatening to garnish their pay.

If you are a residence of New York, and you feel that you have been  victimized by West Asset Management or any other debt collection company, you may contact the Law Office of Joseph Mauro to set up a consultation.  


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