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Author: joelcorley Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308684  
Subject: FTC fines debt collector $3.2 million Date: 7/11/2013 8:50 PM
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Fools,

http://money.cnn.com/2013/07/09/pf/ftc-debt-collector-fine/i...

The Debt Collector named is Expert Global Solutions. EGS is a holding company that owns NCO Group. If you've been around this board for very long, you've probably heard of NCO.

Quoting the article, Under the deal, Expert Global Solutions debt collectors will have to stop calling consumers who dispute a debt until their staff has investigated whether it's been paid.

Collectors must also quit calling consumers who request no further contact or even refuse to pay the debt.


Great. So the settlement has them pay $3.2M out of annual revenue of about $2B (or about 0.16% of what they collect using these practices) and requires them to do the things they were legally required to do anyway. Sounds like a win to me! But for who?

Really I don't know the details of the case; but given that this is NCO, I suspect they're getting off lite.

- Joel
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