FTC Issues New Report On Zombie Debt Buyers, Their Structure & Practices

From The Consumerist:

• In spite of the many rules imposed on the debt collection industry, it still generates, by far, the largest number of complaints to the Federal Trade Commission each year. That’s why the agency recently completed a lengthy investigation into debt-buyers and why they do such a bad job.
  
  Specifically, the FTC wanted to know why debt-buyers, the companies that snatch up old debt from other companies for pennies on the dollar, seem to constantly be contacting the wrong people and/or using incorrect information about the debt.

For more, see 8 Things We Learned From FTC Report On Debt-Buyers.

See also New FTC Report Highlights Problems in the Collection of Purchased Debt, Consistent with Legal Aid Client’s Experience.

From the Federal Trade Commission, see The Structure and Practices of the Debt Buying Industry:

• 50-page report plus tables and appendices,
• Press release.