A collection agency in Memphis Tennessee Regional Adjustment Bureau is set to pay $ 1.5 million in civil penalties to the Federal Trade Commission for violations of the Fair Debt Collection Practices Act.
According to the report from the Federal Trade Commission:
In its complaint against Regional Adjustment Bureau, the FTC charges that the Memphis-based company used unfair and deceptive collection tactics, such as repeatedly calling consumers and accusing them of owing debts that they did not owe, contacting consumers at work while knowing that their employers did not allow the calls, making unauthorized withdrawals from consumers’ bank accounts, and disclosing confidential information about debtors to third parties. The company collects on about a million consumer accounts a year and is charged with violating the FTC Act and the Fair Debt Collection Practices Act (FDCPA).
If you are being contacted by this collection agency, (or any collection agency for that matter) do NOT pay or admit to any debt. Request (by certified letter return receipt requested so you have proof) the validation of debt be sent to you. If you did not receive a validation notice then it is most likely you are being scammed by a collection agency.
Even if you did receive a validation notice then you need to still request the validation of debt. According to the Fair Debt Collection Practice Act the collection agency has no more than thirty (30) days to respond with accurate validation. Validation does NOT include a random print out. Make sure you receive something with your signature that actually proves the debt is yours.
Do not allow the collector or collection agency to intimidate you or scare you into paying. Over 43% of debt collected by collection agencies are invalid and uncollectible. Stand up to them – they are after all; just people on the phone. Nothing more than an over-glorified telemarketer. This is American scam industry – just Nigerian style.