Wednesday, July 10, 2013

Largest Debt Collection Company Hit with $3.2 Million Fine by FTC

As reported in the media Tuesday, July 8, 2013, Expert Global Solutions was fined by the Federal Trade Commission a total of 3.2 Million Dollars for violations of the Fair Debt Collection Practices Act. Expert Global Solutions is the largest US Consumer Debt Collection company based in Plano, TX

The fine resulted from what the FTC called gross violations, including calling consumers multiple times each day, even when consumers asked them to stop.  They were also cited for having called consumers at their place of work, even when the consumer's employer prohibited such calls.  They also left messages about the debt with third parties, which is expressly prohibited.

Under the agreement Expert Global Solutions must not harass or abuse a person while trying to collect a debt, not contact third parties about a person's debt, not call a person's workplace if it is prohibited by their employer, cease communications if a person has requested no further contact, and record at least 75% of all their debt collection calls beginning one year after the date of the order and retain those recordings for a period of not less than 90 days after they are recorded.

Expert Global Solutions has more than 32,000 employees and has annual revenues in excess of $ 1 Billion.

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